Annuity Studies

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Western Institute of Accountancy, Commerce and Finance, 1919 - Annuities - 21 pages
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Page 20 - ... provides for the valuation of all bonds, redeemed in one sum at the end of a term of n years and with semiannual dividends. Particular attention is called to the fact that the annuity must be taken for the term 2n, and at the rate of interest j/2. Example 17. — What is the bid on $100,000 highway 5% bonds maturing at the end of 3 years, interest payable semiannually, to net purchaser a nominal rate of 4% convertible half-yearly?

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