Bond value calculation based on a desired Rate of interest
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Ten years ago I bought a 4% bond that had a face value of $10,000 for $9,300. The bond paid semi-annual interest and I would like to sell it now. How much would I need to receive for the bond if I wish to make an interest rate of 5% compounded semiannually on my investment?
Details
- Publication Date
- May 15, 2013
- Language
- English
- Category
- Education & Language
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): Homework Help Classof1
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- Format