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QUESTION
Can you help me understand how these totals (payments and face value) were reached?
Can you help me understand how these totals (payments and face value) were reached?
Bond Interest Rate 8%
Market Interest Rate 6%
Term 10 years
Payments 20
Bond Total $1,000,000
Payment $40,000,000
Payments: $595,098.99
Face Value: $553,675.75
$1,148,774.74
