A 3-year 1000-face value bond promises to make annual, Financial Management

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A 3-year 1000-face value bond promises to make annual

A 3-year, $1000-face value bond promises to make annual interest payments of $84 at the end of each year. At the end, the principal of $1000 will also be repaid. If investments of similar riskiness yield 7.4%, what is the maximum you would pay for this bond?

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Financial Management: A 3-year 1000-face value bond promises to make annual

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