A 20000 bond has annual coupons and is redeemable at the, Ask an Expert

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A $20,000 bond has annual coupons and is redeemable at the end of fourteen years for $22,600. It has a base amount equal to $18,450 when purchased to yield 6%. Find its base amount if it were purchased to yield 7%.

Please show steps and use formulas. No Excel

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800086

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