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currently 1 6 % , and the company is certain it will remain at 1 6 % until the bond matures in 1 5 years.

currently

16 %,

and the company is certain it will remain at

16 %

until the bond matures in

15

years.

. (1)

The value of the bond with

15

years to maturity is $

(

Round to the nearest cent.

)

Etext pages

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