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Rainbow Corp. bonds, which has a maturity of 7 years, paying 4 percent interest on a $1000 face value. Interest is paid semiannually. The required

Rainbow Corp. bonds, which has a maturity of 7 years, paying 4 percent interest on a $1000 face value. Interest is paid semiannually. The required rate of return is 5 percent, what is the value of bond? A) Semiannual payments, the value of the bond is $ ? B) Annual payments the value of the bond is $ ?

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