A $150 000 bond redeemable at par on October 1, 2026, is purchased on January 15, 2014. Interest is ...

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A $150 000 bond redeemable at par on October 1, 2026, is purchased on January 15, 2014. Interest is ...

A $150 000 bond redeemable at par on October 1, 2026, is purchased on January 15, 2014. Interest is 6% payable semi-annually and the yield is 7.5% compounded semi-annually.
a) What is the market price of the bond?
b) How much interest has accrued?
c) What is the cash price?

Textbook

Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

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