Essay
On February 1, 2009, Lynda Brown, proud mother of newborn daughter Goldie, purchased $600,000 in zero-coupon bonds that mature on February 1, 2029. The bonds pay no interest during the period of time they are outstanding. The interest rate for such borrowings is at 12%.
Required: Calculate the price Lynda paid for the bonds.
Correct Answer:
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$600,000 x .10367* =...View Answer
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Correct Answer:
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View Answer
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