2. A $5,000 bond is offered for sale. It has a stated interest rate of 7% paid annually. At the end of 8 years, the $5,000 debt will be repaid along with the last interest payment. If you want 8%...

Extracted text: 2. A $5,000 bond is offered for sale. It has a stated interest rate of 7% paid annually. At the end of 8 years, the $5,000 debt will be repaid along with the last interest payment. If you want 8% interest rate of return in this investment, how much would you be willing to pay for the bond.