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How much would you pay for a $ 1 8 , 0 0 0 , 5 - year, 5 % bond if you want a

How much would you pay for a $

18, 000, 5 -

year,

5 %

bond if you want a return of

4 % ? (

Assume that the bond pays interest every

6

months. Round your answer to the nearest cent.

)

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