The current market interest rate on U-Store City Investment Building bonds is $10 %$, compounded semiannually. The
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The current market interest rate on U-Store City Investment Building bonds is $10 \%$, compounded semiannually. The original bonds are sold as $\$ 1,000,12 \%$ interest rate notes. A batch of bonds is available that will mature in 8 years. What is today's market price for a $\$ 1,000$ face value bond?
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To calculate todays market price for a 1000 face value bond we need to determine the present value o...View the full answer
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