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Problem on Bonds Gong Li has recently inherited Php10,000 and is considering purchasing 10 bonds of the Lucky Corporation. The bond has a par value

Problem on Bonds

Gong Li has recently inherited Php10,000 and is considering purchasing 10 bonds of the Lucky Corporation. The bond has a par value of Php1,000 with 10% coupon rate and will mature in 10 years. Does Gong Li have enough money to buy 10 bonds if the required rate of return is 9%?

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