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Because market interest rates were near all-time lows at 1.25% per year, a hand tool company decided to pay off the high- interest bonds that
Because market interest rates were near all-time lows at 1.25% per year, a hand tool company decided to pay off the high- interest bonds that it issued 5 years ago. If the interest rate on the bands was ?% per year, how much does the company have to pay the bond holders? The principal amount of the bonds is P 2,500,000
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