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Eight years ago, Burt Brownlee purchased a government bond that pays 6.00 percent interest. The face value of the bond was $1,000. a. What is

Eight years ago, Burt Brownlee purchased a government bond that pays 6.00 percent interest. The face value of the bond was $1,000. a. What is the dollar amount of annual interest that Burt received from his bond investment each year? b Assuming that comparable bonds are now paying 2.40 percent, will Burt's bond increase or decrease in value? c. Why did the bond increase or decrease in value?

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