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Stockman'sCorp. purchased 15,$ 1 comma 000,5%bonds of SimplexCorporation when the market rate of interest was 6%.Interest is paid semiannually on the bonds, and the bonds
Stockman'sCorp. purchased 15,$ 1 comma 000,5%bonds of SimplexCorporation when the market rate of interest was 6%.Interest is paid semiannually on the bonds, and the bonds will mature in sevenyears. Using the PV function in Excel Superscript ,compute the price Stockmanpaid (the present value) on the bond investment
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