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Twenty $1000 bonds redeemable at par bearing 6% coupons payable quarterly are sold eight years...

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Finance

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Twenty $1000 bonds redeemable at par bearing 6% coupons payable quarterly are sold eight years before maturity to yield 5.5% compounded annually. What is the purchase price of the bonds? Select one: a. $20 633.46 O b. $13 031.98 O c. $17 969.05 O d. $20 229.82 O e. $19 861.49 A $4500, 8.1% bond with semi-annual coupons redeemable at par in 8 years was purchased at 96.1. What is the approximate yield rate? a. 4.3791% b. 8.7583% c. 10.3614% d. 5.1807%

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