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The village of Brompton has a bond obligation maturing in 12 years and will need to make a payment of $3,580,000. The treasurer wishes to
The village of Brompton has a bond obligation maturing in 12 years and will need to make a payment of $3,580,000. The treasurer wishes to make an investment today that will provide the needed funds at the bond's maturity. The relevant interest rate is 4.35%. The amount of the investment needed today is closest to:
A) $2,147,699.85
B) $3,202,038.07
C) $4,283,143.69
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
7th Edition
1259919714, 978-1259919718
