Asked Oct 28, 2019

 A corporation recently sold zero-coupon $200 bonds maturing in 3 years with an annual yield of 12%. Find the price. [Hint: The price is the present value of $200 3 years from now at the stated interest rate.] (Round your answer to the nearest cent.)


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Step 1

The price is the present value of $200, 3 year...

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