Business, 30.03.2020 17:58 nicole667

A state savings bond can be converted to $100 at maturity six years from purchase. If the state bonds pay 8% annual interest (compounded annually), at what price must the state sell its bonds? Assume no cash payments on savings bonds before redemption.

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A state savings bond can be converted to $100 at maturity six years from purchase. If the state bond...

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