A $100,000, 8% bond with interest payable quarterly is redeemable at 98(1/8) in 6 years. What is the purchase price to yield 9% compounded

A $100,000, 8% bond with interest payable quarterly is redeemable at 98(1/8) in 6 years. What is the purchase price to yield 9% compounded semi-annually?

Select one:

a. $96,470.91

b. $98,704.19

c. $94,470.19

d. $94,740.91

e. None of these answers

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