Anne purchased a bond for a museum valued

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Anne purchased a bond for a museum valued at $8000 for $2400. If the bond pays 5.5% annual interest compounded monthly, how long must she hold it until it reaches its full face value?

Reference no: EM131387814

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Anne purchased a bond for a museum valued : Anne purchased a bond for a museum valued at $8000 for $2400. If the bond pays 5.5% annual interest compounded monthly, how long must she hold it until it reaches its full face value?
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