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David want to invest some extra money that he has saved. His bank is offering a 5% discount for 5-year $12000 bonds that have a

David want to invest some extra money that he has saved. His bank is offering a 5% discount for 5-year $12000 bonds that have a coupon rate of 8% paid semiannually. If you know that his MARR equals to 8% per year compound semiannually. Calculate the present worth?

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