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B C DEF 1 Richmond Company issues bonds with a face value of $5,000,000 that pay 8% interest semiannually and 2 mature in 10 years.

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B C DEF 1 Richmond Company issues bonds with a face value of $5,000,000 that pay 8% interest semiannually and 2 mature in 10 years. Calculate the price of the bond if the market interest rate is 8%. translate to semi-annual translate to semi-annual 4 N (period of time) 5 (Interest) 6 PV (Present Value 7 FV (Future Value) 8 PMT (Annuity)

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