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SAFE Investments required rate of return is 12% per annum and they consider investing in a SANRAL bond that will be issued at a par

SAFE Investments required rate of return is 12% per annum and they consider investing in a SANRAL bond that will be issued at a par value of R500 000, with a coupon interest rate of 10% nominal per annum (paid semi-annually) and an initial maturity of ten years.

Calculate the market value of the bond

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