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1. Provide an explanation of the difference between proportional and progressive taxes. How are they used? Provide examples of each type.

2. You are considering a 30-year, $1,000 par value bond. Its coupon rate is 9%, and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 8.09%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent.?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92830205

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