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stranahan stranahan
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7 years ago
The school district needs to pass a bond levy for funding to remodel existing schools and to build new schools. Expenditures for the new and remodeled buildings will begin 18 months after passage of the bond. If the school district receives all funding immediately after the passage of the bond and can invest the funds at a rate of 3.75% per year, how large must the bond be for the district to have $45,000,000 at the start of construction?
A) $42,582,422
B) $47,554,834
C) $42,556,397
D) $45,000,000
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
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blightermournblightermourn
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7 years ago
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Kumbaya my lord, Kumbaya

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stranahan Author
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#2
7 years ago
Thanks Smiling Face with Open Mouth and Tightly-closed Eyes
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