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3 : Having held a $ 1 , 0 0 0 bond for 7 years, Jiji is considering selling it . Given an annual bond

3

: Having held a $

1, 000

bond for

7

years, Jiji is considering selling it

.

Given an annual bond rate of

5 %

and an initial purchase price of $

750,

she aims for an annual yield of

8 % .

What should be the selling price for the bond?

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