1A.5 Determine what someone should be willing to pay for each of the following bonds when the...

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1A.5 Determine what someone should be willing to pay for each of the following bonds when the market interest rate for borrowing and lending is 3.5 percent.

a. A bond that promises to pay $15,000 in a lump-sum payment after 1 year

b. A bond that promises to pay $15,000 in a lump-sum payment after 2 years

c. A bond that promises to pay $5,000 per year for 3 years

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