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Compute the price Alton paid on the bond investment

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Problem - Alton Corp. purchased 10, $1,000, 4% bonds of Galvan Corporation when the market rate of interest was 10%. Interest is paid semiannually on the bonds, and the bonds will mature in five years. Using the PV function in Excel Superscript, compute the price Alton paid (the present value) on the bond investment.

Reference no: EM132456522

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