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Compute the price Donte paid

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Question - Donte Corp. purchased 10, $ 1,000, 5% bonds of General Electric Corporation when the market rate of interest was 4%.Interest is paid semiannually on the bonds, and the bonds will mature in six years.

Required - Using the PV function in Excel, compute the price Donte paid (the present value) on the bond investment.

Reference no: EM132455101

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