Bound having a face value

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Reference no: EM131515200

Solve using excel functions. Write them and the result as your work:

A 15-year bound having a face value of $5,000 and coupon rate of 6 percent per 6 months payable semiannually was purchased for $7,000 three years ago, and the sixteenth interest payment was just made. What can it be sold for now if a buyer’s desired return is 4 percent per 6 months?

Reference no: EM131515200

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