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21 (10 points) Steven Jacobs is considering a bond investment in the Northeast Technology Company. The $1,025 bonds have a quoted annual interest rate of
21 (10 points) Steven Jacobs is considering a bond investment in the Northeast Technology Company. The $1,025 bonds have a quoted annual interest rate of 5 percent, and the interest is paid semi-annually. The yield to maturity on the bonds is 6 percent annually. There are 10 years to maturity. Compute the price of the bonds. Use Appendix B and Appendix D. Round "PV Factor" to 3 decimal places. Do not round other intermediate calculations. Round the final answer to 2 decimal places. Show all of your work and the steps you've taken to come to determine the price of the bonds
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