Momentum has the same direction as ______.
1 answer:
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Answer:
$1,105.69
Explanation:
For this question we use the Present value formula that is shown on the attachment. Kindly find it below:
Given that,
Future value = $1,000
Rate of interest = 8.4% ÷ 2 = 4.2%
NPER = 20 years × 2 = 40 years
PMT = $1,000 × 9.5% ÷ 2 = $47.50
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the maximum price pay for the bond is $1,105.69
