Assume the coupon payments are reinvested

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Reference no: EM131497059

Timmy would like to buy $155,297 house in 5 years. There is a semi-annul bond that sells at par, matures in five years and has a coupon rate of 9%. How many bonds does Timmy need to buy so that he can have $155,297 in five year? Assume the coupon payments are reinvested at 9%.

Reference no: EM131497059

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