Homework: Assignment 3 Save Score: 0 of 3 pts 8 of 34 (10 complete) HW Score: 28%, 28 of 100 pts P5-14 (similar to) Question Help Time value An lowa state savings bond can be converted to $750 at maturity 7 years from purchase. If the state bonds are to be competitive with U.S. savings bonds, which pay 2% annual interest (compounded annually) at what price must the state sell its bonds? Assume no cash payments on savings bonds prior to redemption. Ignore taxes. The state must sell its bonds for $ (Round to the nearest cent.)