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A $200,000 bond having a bond rate of 8% payable annually is purchased for $190, 500 and kept for 6 years, at which time it

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A $200,000 bond having a bond rate of 8% payable annually is purchased for $190, 500 and kept for 6 years, at which time it sold. How much should it sell for in order to yield a 7% effective annual return on the investment? A. $168,000 B. $171,000 C. $174,000 D. $177,000

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