Valuing Bonds Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 20
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Valuing Bonds Microhard has issued a bond with the following characteristics:
Par: $1,000 Time to maturity: 20 years Coupon rate: 8 percent Semiannual payments Calculate the price of this bond if the YTM is
a. 8 percent.
b. 10 percent.
c. 6 percent. LO.1
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