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Clarington issued 15 year bonds in the amount of $500,000. Interest on the bonds is 2.2% payable annually. What is the issue price of the

Clarington issued 15 year bonds in the amount of $500,000. Interest on the bonds is 2.2% payable annually. What is the issue price of the bonds, if the bonds are sold to yield 2.83% compounded annually?

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