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You purchased a 3% corporate note that matured in 3 years and paid interest quarterly. You purchased the note at the par value of $5,000
You purchased a 3% corporate note that matured in 3 years and paid interest quarterly. You purchased the note at the par value of $5,000 but sold it one year later immediately after receiving an interest payment. At the time you sold the bond, the market interest rate on a bond of this type was 3.25%
1. What was your selling price for the note?
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