Purchase bonds having an annual percentage

Reference no: EM13246966

Suppose you wish to purchase bonds having an annual percentage yield of 6.45% at the beginning of 1999 and plan to hold them until maturity at the end of 2003. Your goal is to have accumulated a total of $50,000 by muturity. How much should you invest? (answer to the nearest $1.)

Reference no: EM13246966

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