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Misty received a $1,000 savings bond from her grandparents when she turned 10. The bond matures when she turns 25. meaning Misty will receive


 

Misty received a $1,000 savings bond from her grandparents when she turned 10. The bond matures when she turns 25. meaning Misty will receive $1,000 cash when she turns 25. Misty is currently 18 years old. Assuming a positive cost of capital, what is the minimum price that Misty would be willing to sell the bond for today?

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