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What was the purchase price of the bond

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Question - A $9,000 bond with a coupon rate of 6.85% was redeemable on July 01, 2031. It was purchased on February 10, 2025 when the yield rate was 7.60% compounded semi-annually.

Please include a well-labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions.

a. What was the purchase price of the bond?

b. What was the amount of discount or premium on the bond?

Reference no: EM132999889

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