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Find the purchase price if the bondis redeemable

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Reference no: EM131335546

A $500, 8% bond is purchased on February 1, 2004, to yield 10%compounded semi-annually. The interest on the bond is payable onFebruary 1 and August 1 each year. Find the purchase price if the bondis redeemable at face value on February 1, 2014.

Reference no: EM131335546

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