Mrs. Janzen wishes to purchase 13 year-maturity strip bonds with $12,830 cash she now has in her RRSP. If these strip bonds are currently priced to yield 4.25% compounded semi-annually, how many $1,000 denomination bonds can she purchase?

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The Answer of Mrs. Janzen wishes to purchase 13 year-maturity strip bonds with $12,830 cash she now has in her RRSP. If these strip bonds are currently priced to yield 4.25% compounded semi-annually, how many $1,000 denomination bonds can she purchase?

Mrs Janzen Wishes to Purchase 13 Year-Maturity Strip Bonds with $12,830