K.C.G Electric
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A $1000, 8 1/2% K.C.G Electric bond is redeemable on March 1, 2010. Interest is payable on March 1 and September 1. Determine the purchase price if it is bought on March 1, 2000 to yield 8% compounded semi-annually.
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Solution Summary
Provides steps necessary to determine the purchase price of the bond.
Education
- BE, Bangalore University, India
- MS, University of Wisconsin-Madison
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