Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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A 15-year bond issue of 5,600,000 and bearing interest at 3.5% payable annually is sold to yield 3.1% compounded quarterly. What is the issue price of the bonds? …….. The purchase price of the bond is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Transcribed Image Text:A 15-year bond issue of 5,600,000 and bearing interest at 3.5% payable annually is sold to yield 3.1% compounded quarterly. What is the issue price of the bonds? …….. The purchase price of the bond is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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