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A bank buys bonds with a par value of $ 2 5 million for $ 2 4 , 0 4 0 , 0 0 0
A bank buys bonds with a par value of $ million for $ The coupon rate is percent, and the bonds make annual payments. The bonds mature in four years. The bank wants to sell them in three years and estimates the required rate of return in three years will be percent. What will the market value of the bonds be in three years?
a $
b $
c $
d $
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