Suppose that an investor wants to purchase a discount bond that pays $4,500 in one year. If
Question:
Suppose that an investor wants to purchase a discount bond that pays $4,500 in one year. If the interest rate is 4%, then what is the absolute most the investor would be willing to pay to buy this discount bond?
(a) $4,010.10
(b) $3,989.77
(c) $4,445.72
(d) $4,326.92
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