Short Answer
Dean bought a $26,000 bond that has interest rate of 8% per year payable semiannually, 3 years ago. The bond has a maturity date of 12 years from the date it was issued. How much should he be able to sell the bond for today, if the current market interest rate is 9% per year, compounded semiannually?
Correct Answer:
Verified
Correct Answer:
Verified
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