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Find the value of a $14,000 bond with interest at 6.5% payable quarterly if the bond is bought 8 years before maturity to yield 7.2%
Find the value of a $14,000 bond with interest at 6.5% payable quarterly if the bond is bought 8 years before maturity to yield 7.2% compounded quarterly on the investment.
The correct answer is: ($13,407.96)
I need step by step work, Cannot use Excel or financial calculators.
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