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A company issued 8%, 15-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 6%.

A company issued 8%, 15-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell? (FV of S1. PV of $1. FVA of S1. PVA of S1, FVAD of S1 and PVAD of $1) (Enter your answers in whole dollars.) Price of bonds

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Mathematical Applications for the Management Life and Social Sciences

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