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At the beginning of his current tax year, David invests $12,400 in original issue U.S. Treasury bonds with a $10,000 face value that mature in
At the beginning of his current tax year, David invests $12,400 in original issue U.S. Treasury bonds with a $10,000 face value that mature in exactly 15 years. David receives $520 in interest ($260 every six months) from the Treasury bonds during the current year, and the yield to maturity on the bonds is 3.2 percent. (Round your intermediate calculations to the nearest whole dollar amount.)
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