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Shriver Corp. purchased 5 , $ 1000 , 7 % bonds of Eagle Corporation when the market rate of interest was 12 %. Interest is

Shriver Corp. purchased 5 , $ 1000 , 7 % bonds of Eagle Corporation when the market rate of interest was 12 %. Interest is paid semiannually on the bonds, and the bonds will mature in six years. Using the PV function in Excel Superscript , compute the price Shriver paid (the present value) on the bond investment

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