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The Pawnee Parks & Rec department has decided to issue a bond to help control a recent invasion of rabies raccoons. They offer a bond

The Pawnee Parks & Rec department has decided to issue a bond to help control a recent
invasion of rabies raccoons. They offer a bond that has a par value of $247, a current yield of
5.00%, and daily coupon payments. The bond is quoted at 91.33. What is the amount of each
coupon payment?

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