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Face amount: 4,000
Term: 10 years
Stated Interest 6%
Interest Payment Date: Annually on June 1
Yield: 9%
Issue Cost: 70$
PV of 1 for 10 period .558 (6%) .422(9%)
PV ordinary annuity of 1 of 10 periods 7.36 (6%) 6.418(9%)
How much issue proceeds received?
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