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Suppose a fivefive - year bond is purchased with an APR of 4 . 7 5 % . The face value of the bond is

Suppose a fivefive

-

year bond is purchased with an APR of

4.75 % .

The face value of the bond is

8500 .

Find the purchase price of the bond.

Question content area bottom

Part

1

The purchase price of the bond is

$enter your response here.

(

Round to the nearest cent as

needed.

)

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