A 10-year bond purchased at an effective annual yield rate of 4% has level annual...
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Accounting
A 10-year bond purchased at an effective annual yield rate of 4% has level annual coupons. The book value of the bond just after the 4th coupon payment is $1,052.42 and just after the 5th coupon payment it is $1,044.52. Find the original price of the bond that was paid by the investor.
The answer is 1081.1, but I'm not sure how to get there.
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