Calculate the purchase price of the bond on february ten
Problem
A bond that has a face value of $2,500 and coupon rate of 2.30% payable semi-annually was redeemable on July 1, 2021. Calculate the purchase price of the bond on February 10, 2015 when the yield was 2.80% compounded semi-annually.
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Calculate the purchase price of the bond on February 10, 2015 when the yield was 2.80% compounded semi-annually.
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