Determine the purchase price of the bond

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Reference no: EM132801956

Problem - A $1,000 20-year par value bond with semi-annual coupons is bought at a discount to yield i⁽²⁾ = 5%/a. If the amount of the write-up of the discount in the last entry in the schedule is $4.88, determine the purchase price of the bond.

Reference no: EM132801956

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