Mrfritz wishes to purchase a bond having a face value of


Mr.Fritz wishes to purchase a bond having a face value of $1000 and a bond rate of 8% payable annually. The bond has a remaining life of 12 years. In order to earn 10% rate of return on the investment, what amount should be paid for the bond?

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Macroeconomics: Mrfritz wishes to purchase a bond having a face value of
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