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3 Matthew Mfg., Inc. purchased 750 bonds on Jan. 1, 2021. The bonds have a face value of $1,000, a term of ten years, and

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3 Matthew Mfg., Inc. purchased 750 bonds on Jan. 1, 2021. The bonds have a face value of $1,000, a term of ten years, and pay interest semi-annually. The ANNUAL bond rate of interest is 3.5%. Matthew bought the bonds a price which will generate a yield (market rate) of 4%. How much did Matthew pay for the 500 bonds

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