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The following information is for 2-year bonds issued by the City of Winston on January 1,...

The following information is for 2-year bonds issued by the City of Winston on January 1, 2018. Coupons are paid semi-annually. How much total cash will the City pay to investors over the entire life of the bonds (January 1, 2018 – December 31, 2019)? Annual coupon rate: 6% Annual effective rate: 5% Bond principal: $200,000 Group of answer choices $220,000 $24,000 $20,000 $240,000 $224,000

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