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An investor purchases a bond with a PAR value of 10,000.The bond matures in 5 years and yields a quarterly payment of 200.The investor plans

An investor purchases a bond with a PAR value of 10,000.The bond matures in 5 years and yields a quarterly payment of 200.The investor plans to redeem the bond at maturity.The investor wishes to achieve an annual return on investment of 12%.What is the maximum price the investor can pay for the bond and achieve this goal?

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