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Compute the price canter paid on the bond investment

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Question - Corp. purchased 5, $1,000, 8% bonds of Geotherm Corporation when the market rate of interest was 10%. Interest is paid semiannually on the bonds, and the bonds will mature in nine years. Using the PV function in Excel Superscript, compute the price Canter paid (the present value) on the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.)

Reference no: EM131676697

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