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you are saving for a home renovation project and anticipate that you will need $3000 in three years time. You plan to invest in a 4 year bond that...

you are saving for a home renovation project and anticipate that you will need $3000 in three years time. You plan to invest in a 4 year bond that pays 5% annual coupon and sells at par value. If interest rates remain at the current level how many of these bonds will you need to purchase to meet your investment goal?
a. 0.75 Bonds
b. 1.25 Bonds
c. 2.59 Bonds
d. 3.56 Bonds
e. 4.00 Bonds

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You are saving for a home renovation project and anticipate that you will need $3,000 in three years
time. You plan to invest in a 4 year bond that pays 5% annual coupon and sells at par value. If...

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