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A $6900 bond bearing interest at 4.0% payable semi-annually is due in 6 years. Money is worth 6.0% compounded semi-annually. What is the bond rate?

A $6900 bond bearing interest at 4.0% payable semi-annually is due in 6 years. Money is worth 6.0% compounded semi-annually.

What is the bond rate?

a.

6.0% compounded semi-annually

b.

4.0% payable semi-annually

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