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Answer to Question #59561 in Financial Math for Real

Question #59561
A $36,000 serial bond that has an annual interest rate of 12%, paid semi-annually, will be redeemed in three equal annual instalments of $12,000. The bond is purchased on an interest date, one year prior to the first annual redemption. If an investor wants 18%, compounded monthly, what is the purchase price?
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Expert's answer
2016-05-11T08:07:02-0400
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/mathematics-answer-59561.pdf

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