The florida investment fund buys 98 bonds of the gator, Ask an Expert

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The Florida Investment Fund buys 98 bonds of the Gator Corporation through a broker. The bonds pay 12 percent annual interest. The yield to maturity (market rate of interest) is 14 percent. The bonds have a 20-year maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Using an assumption of semiannual interest payments:

a. Compute the price of a bond. (Do not round intermediate calculations and round your answer to 2 decimal places.)

b. Compute the total value of the 98 bonds. (Do not round intermediate calculations and round your answer to 2 decimal places.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91600869

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