question archive You own a bond issued by the Canadian Pacific railroad that promises to pay the holder $1552 annually forever

You own a bond issued by the Canadian Pacific railroad that promises to pay the holder $1552 annually forever

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You own a bond issued by the Canadian Pacific railroad that promises to pay the holder $1552 annually forever. The bond is currently selling for 15520. You plan to sell the bond 3 years from now. If similar investments yield 6% at that time, how much will the bond be worth?

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