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You have the opportunity to buy the right to be paid $600 every 6 months for the next 3 years with an interest rate of
You have the opportunity to buy the right to be paid $600 every 6 months for the next 3 years with an interest rate of 3.6 percent compounded semiannually. At what price do neither you nor the seller make any money on this deal, assuming no transaction (other) costs?
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