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Oriole College is about to issue $1.01 million of 10-year bonds that pay a 4% annual interest rate, with interest payable semi annually (a) Calculate

Oriole College is about to issue $1.01 million of 10-year bonds that pay a 4% annual interest rate, with interest payable semi annually

(a) Calculate the issue price of these bonds if the market interest rate is 3%

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