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calculation manually please 8. Phil purchased an NCD a year ago in the secondary market for $980,000. The NCD matures today at a price of

calculation manually please

8. Phil purchased an NCD a year ago in the secondary market for $980,000. The NCD matures today at a price of $1,000,000, and Phil received $45,000 in interest. What is Phils return on the NCD?

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