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You buy a 20 million dollar bond for 15 years with a coupon of 10% paid once a year. The coupon payments are deposited in
You buy a 20 million dollar bond for 15 years with a coupon of 10% paid once a year. The coupon payments are deposited in a risk-free cash account with 8% per year. What is the amount accumulated after 15 years? (Answer is 74,304,250, How?)
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