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Assume that a 15-year, R1,000 face value bond pays interest of R37.50 every 3 months. If you require a simple annual rate of return of

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Assume that a 15-year, R1,000 face value bond pays interest of R37.50 every 3 months. If you require a simple annual rate of return of 12 percent, with quarterly compounding, how much should you be willing to pay for this bond? Select one: a. R1,207.57 b. R986.43 C. R821.92 d. R1,120.71 e. R1,358.24

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