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Ocean Adventures issues bonds due in 1 0 years with a stated interest rate of 1 1 % and a face value of $ 4
Ocean Adventures issues bonds due in years with a stated interest rate of and a face value of $ Interest payments are made semiannually. The market rate for this type of bond is What is the issue price of the bonds?
Note: Use Excel or a financial calculator.
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$
$
$
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