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Compute the price quimby paid on the bond investment

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Question - Quimby Corp. purchased 10, $1000, 3% bonds of Power Source Corporation when the market rate of interest was 6%. Interest is paid semiannually on the bonds, and the bonds will mature in six years. Using the PV function in Excel, compute the price Quimby paid (the present value) on the bond investment.

Reference no: EM132117344

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