Rick bought a bond when it was issued by Macroflex Corporation 14 years ago The bond, which has a $1,000 face value and a coupon rate equal to 10 percent, matures in six years Interest is paid every six months the next interest payment is scheduled for six months from today If the yield on similar ...

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Rick bought a bond when it was issued by Macroflex Corporation 14 years ago. The bond, which

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Rick bought a bond when it was issued by Macroflex 14 years ago. The bond, which has a $1,000 and a rate equal to 10 percent, matures in six years. Interest is paid every six months; the next interest payment is scheduled for six months from today. If the yield on similar risk investments is 14 percent, what is the current market value (price) of the bond?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a... Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...