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A bond is purchased on January 1, 2013. The bond provides payments of $4,000 on...

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Finance

A bond is purchased on January 1, 2013. The bond provides payments of $4,000 on June 30 and December 31 of each year, and a lump sum payment of $100,000 on December 31, 2017. Determine the price that should be paid for the bond if a 10% rate of return is required.

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