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answer: $2,202.06 please show all steps (6) Maureen purchased a laddered portfolio of par-value...

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answer: $2,202.06 please show all steps

(6) Maureen purchased a laddered portfolio of par-value bonds with semiannual coupons for $20,918. The bonds had common face amount X and coupon rate 6.8%. There was one bond redeemable at the end of each year for ten years. Maureen's yield on the portfolio was an annual effective rate of 8%. Find X

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