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A bond offers a payment of $5000 at the end of every three months. Interest is compounded quarterly at a nominal rate of 8.8%. Determine

A bond offers a payment of $5000 at the end of every three months. Interest is compounded quarterly at a nominal rate of 8.8%. Determine the amount that you would pay for this bond today.

Select one:

a. $ 195 793

b. $ 245 371

c. $ 217 072

d. $ 227 272

e. $ 247 050

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