Question
A $25 000, 10% bond redeemable at par on December 1, 2025, is purchased on September 25, 2014, to yield 7.6% compounded semi-annually. Bond interest is payable semi-annually.
Answers
HonestCheatingMan
25,000 x 10% = 500
500 x 10 months = 3,000
3,000 x 7.6% = 650
= 650 + 500 = 4,000
Answer is 4,000 easy
No need to thank me
500 x 10 months = 3,000
3,000 x 7.6% = 650
= 650 + 500 = 4,000
Answer is 4,000 easy
No need to thank me