undefined Check my work 1 The Milken Investment Fund buys 60 bonds of the...
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Check my work 1 The Milken Investment Fund buys 60 bonds of the Levine Corporation through its broker. The bonds pay 11 percent annual interest. The yield to maturity (market rate of interest) is 12 percent. The bonds have a 10-year maturity. Assume the par value of the bonds is $1,000. Using an assumption of semiannual interest payments, (Use a Financial calculator to arrive at the answers. Enter positive values as answers. Round the final answers to 2 decimal places.) 10 points a. Compute the price of the bond. eBook Price of the bond $ Print b. Compute the total value of the 60 bonds. References Total value $
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