trivialmommy
New member
- Joined
- Dec 9, 2008
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I am not good with word problem so I need a little help.
A $500,6% bond is purchared on February 1, Year1, to yield 4% compounded semiannually. The interest on the bond is paid on February 1 and August 1 each year. Find the price of the bond if the bond is redeemable on August 1, year8.
I don't know where to begin
A $500,6% bond is purchared on February 1, Year1, to yield 4% compounded semiannually. The interest on the bond is paid on February 1 and August 1 each year. Find the price of the bond if the bond is redeemable on August 1, year8.
I don't know where to begin