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What is the purchase price of these bonds

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Question - Price Enterprises invested in the bonds of Greater Gloucester on January 1, 2018. These 50 year, $ 500,000 bonds pay interest of 3% every June 30 and December 31. The effective rate of interest for similar bonds on January 1 was 4%. What is the purchase price of these bonds?

Reference no: EM132831619

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