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A $ 2 5 0 , 0 0 0 bond having a bond rate of 6 % payable annually is purchased for $ 2 3

A $250,000 bond having a bond rate of 6% payable annually is purchased for $235,000 and kept for 6 years, at which time it is sold. How much should the bond be sold for in order to yield at a 5% effective annual return on the investment?

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