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What is the face value of a municipal bond that matures in

a. What is the face value of a municipal bond that matures in 20 years and has a bond coupon rate of 6% per year with semiannual payments of $900?

b. What is the present worth of a $50,000 debenture bond that has a bond coupon rate of 8% per year, payable quarterly? The bond matures in 15 years. The interest rate in the marketplace is 6% per year, compounded quarterly.

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Finance Basics: What is the face value of a municipal bond that matures in

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