A $1,000, 6% bond redeemable at par with semi-annual coupons

in /by

A $1,000, 6% bond redeemable at par with semi-annual coupons

A $1,000, 6% bond redeemable at par with semi-annual coupons was purchased 10 years before maturity to yield 5% compounded semi-annually. The bond was sold three years later at 102. Calculate the gain or loss on the sale of the bond.
Select one:
a. $43.35
b. $39.45
c. $34.45
d. $38.45
e. $44.35

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