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James wants to purchase a bond with face value of 3,000. The

Paper help Economics James wants to purchase a bond with face value of 3,000. The

Economics

James wants to purchase a bond with face value of 3,000. The

James wants to purchase a bond with face value of 3,000. The bond rate is 7 percent, payable annual… Show more James wants to purchase a bond with face value of 3,000. The bond rate is 7 percent, payable annually. He plans to hold the bond until maturity 11 years from now, collecting the original face value. He would like to have 4.8 percent yield on his investment. What should the purchase price be? • Show less

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