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Determining the purchase price

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Henry is planning to purchase a Treasury bond with a coupon rate of 2.05% and face value of $100. The maturity date of the bond is 15 March 2033.

(a) If Henry purchased this bond on 3 March 2020, what is his purchase price (rounded to four decimal places)? Assume a yield rate of 3.16% p.a. compounded half-yearly.

Reference no: EM133073789

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