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An investoris contemplating the purchase of a $20,000 face value bond. The bond will mature in...

An investoris contemplating the purchase of a $20,000 face value bond. The bond will mature in twenty years. The bond pays interest at 6% per year payable quarterly. The investor’s MARR is 8% per year compounded monthly. Compute the amount that the investor would be willing to pay for the bond in order to meet their expected MARR.

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