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FourFour
$1 comma 0001,000,
5.65.6%
bonds with
annuallyannually
coupons redeemable at
parpar
on
January 11 comma 2022January 11, 2022,
were bought on
OctoberOctober
2727,
2005, to yield
9.69.6%
compounded
annuallyannually.
The bonds were sold on
December 28 comma 2014December 28, 2014,
at
100.7100.7.
Find the gain or loss on the sale of the bonds without constructing a bond schedule.
Answer & Explanation
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