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What price did scotiabank pay on the issue date

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A 25-year, $10,000 face value strip bond was purchased by Scotiabank on its issue date to yield 5.1% semi-annually compounded. Scotiabank sold the strip bond to a client 10 years and 6 months after the issue date so the client would yield 4.5% semi-annually compounded.

Question a) What price did Scotiabank pay on the issue date?

Question b) How much did the client pay for the strip bond?

Reference no: EM132604404

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