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Suppose a State of New Jersey bond will pay $1,000 five years from now. If the going interest rate on these 10-year bonds is 4.1%,

Suppose a State of New Jersey bond will pay $1,000 five years from now. If the going interest rate on these 10-year bonds is 4.1%, how much is the bond worth today?

1.

$675.79
2.

$669.10
3.

$817.99
4.

$628.96
5.

$749.39

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