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A company has issued 10-year bonds, with a face value of P1Million in P1000 units. Interest at 16% is paid quarterly if an investor desires

A company has issued 10-year bonds, with a face value of P1Million in P1000 units. Interest at 16% is paid quarterly if an investor desires to earn 20% nominal interest on P100,000 worth of these bonds, what would be the selling price have to be?

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