Havard research issues bonds dated january 1 2009 that pay

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Havard Research issues bonds dated January 1, 2009, that pay interest semi annually on June 30 and December 31. The bonds have a $45,000 par value and an annual contract rate of 6%, and they mature in six years.What is the market rate at the date of issuance is 4%?

Reference no: EM13602587

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