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OpenStudy (anonymous):
Joe purchased 300 of the 1,000 face value, 9%, 10 year bonds, in january1,2012, with a mature date january1,2022 and pay interest annually beginning January 1,2013. The bonds were purchased to yield 11%. How much was paid for the bonds?
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OpenStudy (anonymous):
this might help you solving the problem... http://www.basic-mathematics.com/investing-in-bonds.html
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