5. (LO 1) Justins grandfather left him a $10 000 bond with exactly one year left until...
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5. (LO 1) Justin’s grandfather left him a $10 000 bond with exactly one year left until redemption. Its coupon rate is 8 percent per annum. The current rate of interest on similar bonds is 5 percent. Unfortunately, Justin has to sell this bond to raise money for tuition next semester.
Ignoring brokerage fees and other transaction costs,
approximately how much will Justin get for his bond?
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Kirti Kaushal
Having experience of more than 10 years is good enough to coach my students. Currently, I am working as an active supervisor of ACCA students. In my career, I helped students in financial accounting, management accounting, cost accounting, financial reporting, taxation, and audit. I also helped students publish their articles or papers in good journals. I also helped students with thesis and objective writing.
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