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You have an opportunity to purchase a bond that will pay out $550 in 11 months. If you would like to earn at least a

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You have an opportunity to purchase a bond that will pay out $550 in 11 months. If you would like to earn at least a 3.4% annual rate of simple interest on your investment, what is the largest amount the you should pay for the bond? Round your answer to the nearest cent

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