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Business, 28.06.2021 15:20 idc23

You purchased a 20-year par value bond with semiannual coupons at a nominal annual rate of 8% convertible semiannually at a price of 1722.25. The bond can be called at par value X on any coupon date starting at the end of year 15 after the coupon is paid. The price guarantees that you will receive a nominal annual rate of interest convertible semiannually of at least 6%. Calculate X. a. 1400
b. 1420
c. 1440
d. 1400
e. 1480

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You purchased a 20-year par value bond with semiannual coupons at a nominal annual rate of 8% conver...
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