Stan moneymaker has the opportunity to purchase a certain, Business Economics

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Stan moneymaker has the opportunity to purchase a certain

Stan Moneymaker has the opportunity to purchase a certain U.S. Treasury bond that matures in eight years and has a face value of $10,000. The bond stipulates a fixed nominal interest rate of 8% per year but interest payments are paid quarterly. Stan would like to earn 10% interest (compounded quarterly) on his investment. How much should Stan pay for the bond?

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