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Assume that you wish to purchase a 20-year bond that has a maturity value of R1,000 and makes semi-annual interest payments of R40. If you

Assume that you wish to purchase a 20-year bond that has a maturity value of R1,000 and makes semi-annual interest payments of R40. If you require a 10 percent simple yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? Select one: a. R674 b. R761 C. R619 d. R828 e. R902

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