A $150 000 bond bearing interest at 6% payable semi-annually is bought eight years before maturity to yield 4.5% compounded annually. If the bond is redeemable at par, what is the purchase price?

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The Answer of A $150 000 bond bearing interest at 6% payable semi-annually is bought eight years before maturity to yield 4.5% compounded annually. If the bond is redeemable at par, what is the purchase price?

A $150 000 Bond Bearing Interest at 6% Payable Semi-Annually