On February 1, 2018, Nell purchased $600,000 in zero-coupon bonds that mature on February 1, 2038. The bonds pay no interest during the period of time they are outstanding. The interest rate for such borrowings is at 12%.
Required: Calculate the price Nell paid for the bonds.

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The Answer of On February 1, 2018, Nell purchased $600,000 in zero-coupon bonds that mature on February 1, 2038. The bonds pay no interest during the period of time they are outstanding. The interest rate for such borrowings is at 12%.
Required: Calculate the price Nell paid for the bonds.

On February 1, 2018, Nell Purchased $600,000 in Zero-Coupon Bonds