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What is the purchase price of the bond

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Reference no: EM133200984

A 25-year bond issue of $5,000,000 and bearing interest at 4.25% payable annually is sold to yield 4.5% compounded semi-annually.

What is the purchase price of the bond? 

You MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV, AMORT) to solve questions whenever possible.

Reference no: EM133200984

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