Last year, Manuel bought a bond for $10,000 that promises to pay him $900 a year. This

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Last year, Manuel bought a bond for $10,000 that promises to pay him $900 a year. This year he can buy a bond for $10,000 that promises to pay $1,000 a year. If Manuel wants to sell his old bond, what is its price likely to be?

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:29 AM

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Last year, Manuel bought a bond for $10,000 that promises to pay him $900 a year. This

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1000 a year on 10000 is a 10 percent ...View the full answer

Economics

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