Tom and Rika Nagata plan to retire in ten years. In 2004, they purchased three bonds:

Question:

• Two 20-year AT&T corporate bonds, each with a face value of $$1,000$ and 7 percent annual interest. The purchase price was $$830$ each. The current market value is $$910$ each.

• A 30-year Coca-Cola corporate bond, with a face value of $$1,000$ and 8.5 percent annual interest. The purchase price was $$1,050.$ The current market value is $$1,020$.

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