Timmy would like to buy 155297 house in 5 years there is a, Ask an Expert

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Timmy would like to buy $155,297 house in 5 years. There is a semi-annul bond that sells at par, matures in five years and has a coupon rate of 9%. How many bonds does Timmy need to buy so that he can have $155,297 in five year? Assume the coupon payments are reinvested at 9%.

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Financial Management, Finance

Category:- Financial Management
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