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You are seriously considering an investment in Zero Coupon Bonds. The specific bond you are evaluating has a face value of $3,601 and matures in
You are seriously considering an investment in Zero Coupon Bonds. The specific bond you are evaluating has a face value of $3,601 and matures in 16 years. What would be the most you should be willing to pay per bond if the appropriate discount rate for this security equals to 8.21%? Round your answer to the nearest penny.
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