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What price did linda pay for the bond

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Reference no: EM133125281

Question - On December 31, 2021, Linda purchased from Wendy a $1,000 par value bond ("the Bond") issued by ABC Ltd. ('ABC"). ABC issued the Bond on July 1, 2020.

The Bond as issued by ABC had a 15 year maturity period.

Linda was attracted to the Bond because she knew that she would receive $75.00 in interest twice per year.

Linda has always followed the investment advice given to her by her Father, who advised Linda that a yield of 8% would always be adequate to satisfy her investment needs.

Required -

What price did Linda pay for the Bond?

What price would Linda have paid for the Bond if she had received interest only once per year?

Reference no: EM133125281

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