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Nominal value of the stock purchased

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Reference no: EM131065947

Annette bought 3½% government stock at £87 per £100 nominal value.

She invested £34,800 in the stock, and held it for a period during which she received interest of £5,600 in total for the period.

Calculate:

(i) the nominal value of the stock purchased

Reference no: EM131065947

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