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Quimby Corp. purchased een $1,000 3% bonds of Power Source Corporation when the market rate of interest was Interest is paid sem an nd the
Quimby Corp. purchased een $1,000 3% bonds of Power Source Corporation when the market rate of interest was Interest is paid sem an nd the bonds mature n ur ears Using the PV function in Excel, compute the price Quimby paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.) Quimby paid on the bond investment
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