A $10 000 bond bearing interest at 6% payable semi-annually redeemable at par on March 1, 2002, was purchased on September 30, 1996, to yield 5% compounded semi-annually. Determine the purchase price.

Question

Quizplus · Accepted Answer

The Answer of A $10 000 bond bearing interest at 6% payable semi-annually redeemable at par on March 1, 2002, was purchased on September 30, 1996, to yield 5% compounded semi-annually. Determine the purchase price.

A $10 000 Bond Bearing Interest at 6% Payable Semi-Annually