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What is the purchase price of the bonds for Price Enterprise

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Reference no: EM132791807

Price Enterprises invested in the bonds of Greater Gloucester on January 1, 2018. These 50 year, $ 500,000 bonds pay interest of 3% every June 30 and December 31. The effective rate of interest for similar bonds on January 1 was 4?%.

Problem 1: What is the purchase price of these bonds?

Reference no: EM132791807

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