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Sandhill Enterprises Ltd. has $1,000 par value bonds paying 8% annual interest and maturing in 8 years. Determine the price of the bond assuming a
Sandhill Enterprises Ltd. has $1,000 par value bonds paying 8% annual interest and maturing in 8 years. Determine the price of the bond assuming a market interest rate of: (Round answers to 2 decimal places, e.g. 25.45.)
a) | 8% | $ | ||
b) | 12% | $ |
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