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Hillier Hillier
wrote...
Posts: 550
Rep: 5 0
6 years ago
A $200 000 bond is redeemable at 108 in 14 years. If interest on the bond is 5.5% payable semi-annually, what is the purchase price to yield 4% compounded semi-annually?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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Replies
wrote...
6 years ago
PP = 200000.00(1.08)(1.02)-28 + 5500.00
   = 200000.00(1.08)(.5743746) + 5500.00(21.2812724)
   = 124064.90 + 117047.00 = $241 111.90
Hillier Author
wrote...
6 years ago
Thanks so much
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