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new university plans to issue a $ 2 million bond. The money is needed to buy equipment for its physics laboratories. The bond matures in
new university plans to issue a $ million bond. The money is needed to buy equipment for its physics laboratories. The bond matures in years and requires semiannual interest payments. The stated interest is percent, but rates have fallen to percent in the market. How much will the university receive when it issues the bond?
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