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7. A company issues 3000 bond certificates with a face value of $1000 each that mature in 10 years. Interest on the bonds is 6.5%

7. A company issues 3000 bond certificates with a face value of $1000 each that mature in 10 years. Interest on the bonds is 6.5% payable annually. What is the issue price of the bonds if the bonds are sold to yield 5.5% compounded quarterly

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