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Sweet Company sells 8% bonds having a maturity value of $1,550,000 for $1,432,484. The bonds are dated January 1, 2020, and mature January 1, 2025.

Sweet Company sells 8% bonds having a maturity value of $1,550,000 for $1,432,484. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. (a)

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Determine the effective-interest rate. (Round answer to O decimal places, e.g. 18%.) The effective interest rate % e Textbook and Media Save for Later itoni

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