It is now may 1 2015 and timmy has just purchased a


It is now May 1, 2015, and Timmy has just purchased a five-year U.S. government bond (FV = $1,000) with a quoted price of 93.779. This bond has a 6-percent coupon rate, and the last semi-annual coupon payment was made on January 1, 2015. How much will Timmy actually pay for this bond?

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Basic Statistics: It is now may 1 2015 and timmy has just purchased a
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Now Priced at $10 (50% Discount)

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