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What price must the state sell the? bonds

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Question 1: An Iowa state savings bond can be converted to ?$750 at maturity 25 years from purchase. If the state bonds are to be competitive with U.S. savings? bonds, which pay 3?% annual interest? (compounded annually), at what price must the state sell its? bonds? Assume no cash payments on savings bonds prior to redemption. Ignore taxes.

  • The state must sell its bonds for ?$ ?? ?(Round to the nearest? cent.)

Reference no: EM132492514

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