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Posted on Jul 27, 2024

Three years ago, Petty Partners Inc. issued 1 5 - year, $ 1 , 0 0 0 bonds that are currently priced at $ 9

Three years ago, Petty Partners Inc. issued

15 -

year, $

1, 000

bonds that are currently priced at $

911.37 .

If the prevailing rate of return on similar investments is

5 %,

what is the annual interest payment of Petty Partners bonds

?

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