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1) A $21,000, 9


1) A $21,000, 9.5% bond redeemable at par is purchased 12 years before maturity to yield 8.2% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the? bond?

2) A property was purchased for $7640.00 down and payments of $867.00 at the end of every six months for 10 years. Interest is 6% per annum compounded quarterly. What was the purchase price of the? property? How much is the cost of? financing?

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