Question: A zero coupon bond is a bond that is sold now at a discount and will pay its face value when it matures. No interest

A zero coupon bond is a bond that is sold now at a discount and will pay its face value when it matures. No interest payments are made.

Use the Zero Coupon Bond information above to answer this question.

A zero coupon bond with a face value of $15,000 matures in 23 years. What should the bond be sold for now if its rate of return is to be 4.546% compounded annually?

$_____ . Round to the nearest dollar.

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