Question: 16. $_____________ (rounded to nearest dollar) A ten-year bond issue with a face amount of $100,000 bears interest at the rate of 5.0%. The current

16. $_____________ (rounded to nearest dollar) A ten-year bond issue with a face amount of $100,000 bears interest at the rate of 5.0%. The current market rate of interest is 4.90%. Determine the issue price of this annual bond.

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