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Calculate the purchase price of the $1000 face value of the bond. (Assume that bond interest is paid ...

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Calculate the purchase price of the $1000 face value of the bond. (Assume that bond interest is paid ...

Calculate the purchase price of the $1000 face value of the bond. (Assume that bond interest is paid semiannually, that the bond was originally issued at its face value, that the bond is redeemed for its face value at maturity and that the market rate of return is compounded semiannually.)

Issue Date	Maturity Date	Purchase Date	Coupon Rate	Market Rate
October 31, 1991	October 31, 2016	April 30, 2008	16.0%	5.7%

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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