The bond bears an interest rate of 866 with bond interest, Financial Management

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The bond bears an interest rate of 866 with bond interest

M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 8.66% with bond interest payable semiannually. Six years ago, $1294 was paid for the bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be:

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Financial Management: The bond bears an interest rate of 866 with bond interest

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