Florida state savings bond can be converted

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A Florida state savings bond can be converted to $1,000 at maturity 14 years from now. If the state bonds are to be competitive with U.S. savings bonds, which pay 7% interest compounded annually, at what price will the state's bonds sell? At what price would the bond sell if savings bonds were pay ng 9% interest compounded annually? Compare your answers.

Reference no: EM131959938

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