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Medina Builders wants to raise $31.3 million to expand its business. To accomplish this, it plans to sell 15-year, $1,000 face value zero coupon bonds. The bonds will be priced to yield 5.75 percent. What is the minimum number of bonds it must sell to raise the money it needs? Assume semiannual compounding.
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Terrorists John Allen Paulos has pointed out a problem with massive, untargeted wiretaps. To illustrate the problem, he supposes that one out of every million Americans has terrorist ties. Furthermore, he supposes that the terrorist profile is accurate so that if a person has terrorist ties, the profile will pick them up of the time, and if the person does not have terrorist ties, the profile will accidentally pick them up only of the time. Given that the profile has picked up a person, what is the probability that the person actually has terrorist ties? Discuss how your answer affects your opinion on domestic wiretapping. Source: Who's Counting.
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