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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Chapter
Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 18.A, Problem 2TY
Textbook Problem
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A government bond pays $100 in interest each year for three years and also returns the principal of $1,000 in the third year. How much is it worth in terms of today’s money if the rate of interest is 8 percent? If the rate of interest is 12 percent?

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