If You Require an 11% Rate of Return,how Much Would

question 26

Multiple Choice

If you require an 11% rate of return,how much would you pay now for a bond with a face value of $3,000,pays $120 interest each year and matures in 11 years' time? Round your answer to the nearest $10.

• A)$810
• B)$2,130
• C)$1,700
• D)$1,950

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