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The Township of Langley issued 20 -year bonds of ( $ 3,000,000 ) paying ( 6.5 % ) compounded semi-annually to raise funds for road

The Township of Langley issued 20 -year bonds of \( \$ 3,000,000 \) paying \( 6.5 \% \) compounded semi-annually to raise funds for road improvements. At the same time, the township set up a sinking f

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