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A company has issued 10-year bonds, with a face value of 1,000,000 in 1,000 units. Interest at 16% is paid quarterly. If an investor desires

A company has issued 10-year bonds, with a face value of 1,000,000 in 1,000 units. Interest at 16% is paid quarterly. If an investor desires to earn 20% nominal interest on 100,000 worth of these bonds, what would the selling price have to be?

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