A bond with a face value of ​$7,000 pays quarterly interest of 2.5 percent each period. Twenty-two interest payments remain before the bond matures. How much would you be willing to pay for this bond today if the next interest payment is due now and you want to earn 8 percent compounded quarterly on your​ money? table of compound interest factors for discrete compounding periods when i=2​%.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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A bond with a face value of ​$7,000 pays quarterly interest of 2.5 percent each period. Twenty-two interest payments remain before the bond matures. How much would you be willing to pay for this bond today if the next interest payment is due now and you want to earn 8 percent compounded quarterly on your​ money? table of compound interest factors for discrete compounding periods when i=2​%.
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