Pat is very happy with her team of 15 customer care representatives who've all been consistently performing well. Customer feedback was impressive and Pat is planning to give them good bonuses this time around. As a manager, Pat believes it is important to let her subordinates know when she is happy with their work. She does so, and also calls a meeting to discuss what they can do to improve further. Pat is using communication for .

Bonds often pay a coupon twice a year. for the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. using the values of cash flows and number of periods, the valuation model is adjusted accordingly. assume that a $1,000,000 par value, semiannual coupon us treasury note with three years to maturity has a coupon rate of 3%. the yield to maturity (ytm) of the bond is 7.70%. using this information and ignoring the other costs involved, calculate the value of the treasury note: