Determine what someone should be willing to pay for each of the following bonds when the market

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

a. A bond that promises to pay $3,000 in a lump-sum payment after 1 year.

b. A bond that promises to pay $3,000 in a lump-sum payment after 2 years.

c. A bond that promises to pay $1,000 per year for 3 years.

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