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The going rate of interest on a 5-year treasury bond is 4.25%. You have one that will pay $3,525 five years from now. How much

The going rate of interest on a 5-year treasury bond is 4.25%. You have one that will pay $3,525 five years from now. How much is the bond worth today?

Select the correct answer.

a. $2,874.32
b. $2,862.72
c. $2,868.52
d. $2,880.12
e. $2,856.92

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