A 20-year bond pays 6% annually on a face value of $1,000. If similar bonds are currently yielding 4%, what is the market value of the bond? Use time value of money tables in Appendix B and Appendix D.

Zara, a global retail and apparel manufacturer based in spain that has successfully implemented this idea by having a continuous flow of new products that are typically limited in supply. zara has created a system that draws its clientèle into its stores, on average, 17 times per year as compared to 4 times per year for most stores. how is zara using it to gain competitive advantage? what specific technologies are used by zara to maintain this advantage over its competition?