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majarm majarm
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6 years ago
Clarington issued 15 year bonds in the amount of $500 000. Interest on the bonds is 2.2% payable annually. What is the promised payment at the end of each year?
A) $11 100
B) $693 000
C) $360 750
D) $374 675
E) $13 925
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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