Ask a New Question
Menu

I am having a problem with this question and need direction.A $500 8% bond is purchased on Feb. 1,2004 to yield 10% compounded semi-annually. The interest on the bond is payable on Feb. 1 and Aug.1 each year. What is the purchase price if the bond is redeemable at face value on Feb. 1, 2014? I don't even know where to start and can't find any samples in my text. Thank you very much for any help.

Similar Questions
    1. answers icon 0 answers
  2. Lily Adams purchased a $1,000 bond at 70. The bond pays 4%.What was the cost of the bond? What was the annual interest? What is
    1. answers icon 0 answers
  3. Lily Adams purchased a $1,000 bond at 70. The bond pays 4%.What was the cost of the bond? What was the annual interest? What is
    1. answers icon 3 answers
  4. Lily Adams purchased a $1,000 bond at 70. The bond pays 4%What was the cost of the bond? What was the annual interest? What is
    1. answers icon 0 answers
more similar questions