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the city of state college plans to issue bonds with a par value of $ 3 , 0 0 0 that will issue 7 %

the city of state college plans to issue bonds with a par value of $

3, 000

that will issue

7 %

quarterly payments for

3

years. If a purchaser wants to earn

5 %

per quarter over the lifetime of the bond, how much would the purchaser be willing to pay for the bond

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