. Joey purchased an n-year par-value 2,000 bond that had a coupon rate of 9% convertible quarterly. Todd purchased a par-value bond with an identical coupon rate but having a term of 2n years. The coupons that Joey and Todd received in the first n years were identical and both bonds had a yield rate of 6% convertible quarterly. Todd paid 233.02 more than Joey. Calculate n. Note that 4n must be an integer

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Answer:

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Explanation: