What must be the minimum selling


A bond is purchased for 8500 dollars. The PAR value is 10,000 and the bond interest rate is 6% payable semi-annually. The holder keeps it for exactly 6 years and then sells the bond immediately after the last payment. lf the holder wishes to obtain a 12% rate of return, what must be the minimum selling price?

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Financial Management: What must be the minimum selling
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