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12: David owns $15,000 worth of 10-year bonds of Ace Corporation. These bonds pay interest every 6 months at the rate of 3%/year (simple interest).

12: David owns $15,000 worth of 10-year bonds of Ace Corporation. These bonds pay interest every 6 months at the rate of 3%/year (simple interest). How much income will David receive from this investment every 6 months? How much interest will David receive over the life of the bonds?

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