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You run a pension fund that invests in semi-annual coupon, par-value, 8-year bonds yielding 3% per period (69 APR). The fund must pay $100 million

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You run a pension fund that invests in semi-annual coupon, par-value, 8-year bonds yielding 3% per period (69 APR). The fund must pay $100 million eight years from now. You invest a total of $62,316,693.92 today, and right afterward, the interest rate on bonds of the same risk drops to 2% per period (4% APR). How much money do you now expect to be in the fund after eight years? HINT: Figure out how much you get in coupon payments every period and how much you expect them once reinvested) to grow to Add that to the principal amount that you expect to get in Year 8 Select one: I $97.163 million $101.213 million $87.439 million $62.371 million $85.547 million $102.933 million $100 million $99.201 million

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