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7. A company issues 5000 bond certificates with a face value of $1000 each that mature in 10 years. Interest on the bonds is 3.5%

7. A company issues 5000 bond certificates with a face value of $1000 each that mature in 10 years. Interest on the bonds is 3.5% payable annually. What is the issue price of the bonds if the bonds are sold to yield 5.5% compounded quarterly?

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