A $25,000, 6% bond redeemable at par with interest payable annually is bought 12.5 years...
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Finance
A $25,000, 6% bond redeemable at par with interest payable annually is bought 12.5 years before maturity. Determine whether it is a premium or discount, its value, and the purchase price of the following bonds if the bond is purchased to yield:
a) 8% compounded annually b) 4% compounded annually
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