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A bond promises to pay $1,000 20 years from today. No interest will be paid on the bonds during the 20 years if the interest

A bond promises to pay $1,000 20 years from today. No interest will be paid on the bonds during the 20 years if the interest rate is 7%, what is the bond's present value? Multiple Choice $629.56 $50 $258.42 $1,000

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