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You wish to sell a bond that has a face value of $5,000. The bond bears an interest rate of 7.5%, which is payable quarterly.

You wish to sell a bond that has a face value

of $5,000. The bond bears an interest rate of 7.5%,

which is payable quarterly. Six years ago, the bond

was purchased at $4,800. At least a 9% annual return

on the investment is desired. What must be the minimum

selling price of the bond now in order to make

the desired return on the investment?

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