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Solve issuing price for bonds
The market interest rate for Christian Charities is 8% on January 1, 2008. On that day, Christian Charities issued the following bonds.
A. $500,000 7-year 7% bond B. $300,000 10-year 9% bond For both bonds, interest is paid semiannually on June 30 and December 31 each year up until maturity. Compounding is done semiannually. Questions 1. What is the issuing price for bonds A and B respectively? Show your calculations. |
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