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Suppose a State of California Bond Will Pay $1,000 Eight

Question 38

Multiple Choice

Suppose a State of California bond will pay $1,000 eight years from now.If the going interest rate on these 8-year bonds is 5.4%,how much is the bond worth today?


A) $551.51
B) $768.18
C) $656.56
D) $518.68
E) $722.22

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