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Haygood Corp purchased five $1,000 8% bonds of Power Source Corporation when the market rate of interest was 6%. Interest is paid semiannually, and the

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Haygood Corp purchased five $1,000 8% bonds of Power Source Corporation when the market rate of interest was 6%. Interest is paid semiannually, and the bonds will mature in six years Using the PV function in Excel.compute the price Haygood paid (the present value) for the bond investment (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cont.) Haygood paid on the bond investment

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