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1. Statue Builders, Inc. took out a loan for $244,564 that has to be repaid in...

1. Statue Builders, Inc. took out a loan for $244,564 that has to be repaid in 9 equal annual installments. The APR on the loan is 6.49 percent. How much of the second payment is interest?

2. What is the price of a 28-year bond paying 7.9 % annual coupons with a face (par) value of $1,000 if an 28-year bond making semi-annual payments and paying 7.9 % sells at par? Answer to the nearest cent, xxx.xx and enter without the dollar sign.

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