Bernard purchased a $50,000 bond carrying a 4.5% coupon rate when it had 8 years remaining until maturity. What price did he pay if the prevailing rate of return on the purchase date was 5.2% compounded semiannually? (Taken from CIFP course materials.)

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The Answer of Bernard purchased a $50,000 bond carrying a 4.5% coupon rate when it had 8 years remaining until maturity. What price did he pay if the prevailing rate of return on the purchase date was 5.2% compounded semiannually? (Taken from CIFP course materials.)

Bernard Purchased a $50,000 Bond Carrying a 4