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2. An eight-year, 7%, $1,000 bond (cash interest payable annually) is sold to yield 9% interest. Compute the bond selling price round to the nearest
2. An eight-year, 7%, $1,000 bond (cash interest payable annually) is sold to yield 9% interest. Compute the bond selling price round to the nearest dollar. (round to nearest dollar)
Group of answer choices
a) 662
b) 889
c) 987
d) 700
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