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6. In 1995 Coca-Cola Enterprises needed to borrow about a quarter of a billion dollars for 25 years. It did so by selling bonds, each

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6. In 1995 Coca-Cola Enterprises needed to borrow about a quarter of a billion dollars for 25 years. It did so by selling bonds, each of which simply promised to pay the holder $1,000 at the end of 25 years. The market interest rate at the time was 8.53 percent. How much would you have been prepared to pay for one of the company's bonds

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