Question: A city issues a $10,000,000 bond that has a stated annual interest rate of 3% and pays interest semi-annually for 20 years. What is

A city issues a $10,000,000 bond that has a stated annual interest

A city issues a $10,000,000 bond that has a stated annual interest rate of 3% and pays interest semi-annually for 20 years. What is the par value of the bond?

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