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A lender pays $ 1 0 0 , 0 0 0 for a bond that returns a single payment at the end of two years.
A lender pays $ for a bond that returns a single payment at the end of two years. The annual interest rate on the bond is percent. The lender will be repaid at the end of the two years.
$
$
more than $ but less than $
more than $
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