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What is the present worth of a $50,000 bond that has an interest of 20% per year payable quarterly? The bond matures in 5 years.

What is the present worth of a $50,000 bond that has an interest of 20% per year payable quarterly? The bond matures in 5 years. The interest rate in the marketplace is 10% per year, compounded semiannually.

Please do not use excel.

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