The Megabucks Corporation is issuing a 20-year bond paying 7% interest. An investor wishes to buy the rights to receive the interest on $30,000 worth of these bonds and seeks a 12% rate of return. If the investor payments are made continuously, what will the investor pay? Round your answer to the nearest cent. Round your answer to the nearest cent.
?
A. $159.12
B. $17,500.00
C. $210,405.59
D. $1,909.49
E. $15,912.44
Answer: E
Mathematics
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