A Florida state savings bond pays $3,000 when it matures 6 years from now, but...

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image A Florida state savings bond pays $3,000 when it matures 6 years from now, but it makes no other payments. If he state bonds are to be competitive with U.S. savings bonds, which pay 4% interest compounded annually, at what price will the state's bonds sell? At what price would the bond sell if U.S. savings bonds were paying 5% nterest compounded annually? Compare your answers. f U.S. savings bonds were paying 4% interest compounded annually, the current price, PV, of the state bond is (Round to the nearest cent.)

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