Mr gonzalez wishes to sell a bond that has a face value of, Business Economics

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Mr gonzalez wishes to sell a bond that has a face value of

Mr. Gonzalez wishes to sell a bond that has a face value of $1000. The bond bears an interest rate of 8%, with bond interest’s payable semi annually. Four years ago, $920 was paid for the bond. At least a 9% return (yield) on the investment is desired. What must be the minimum selling price?

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