Question: Last month Tim purchased $ 2 0 , 0 0 0 of U . S . Treasury bonds ( their face value was $ 1

Last month Tim purchased $20,000 of U.S. Treasury bonds (their face value was $10,000). These bonds have a 25-year maturity period, and they pay 1.5% interest every three months (i.e., the APR is 6%, and Tim receives a check for $300 every three months). But interest rates for similar securities have

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