Heather has just bought a bond that will mature in 5 years for 300, with a 320
Question:
Heather has just bought a bond that will mature in 5 years for £300, with a £320 par value and a coupon rate of 10% paid semiannually. What should the value of this bond be if the required return on similar-risk bonds is 12% per year (6% paid semiannually)?
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Step by Step Answer:
To calculate the value of the bond we can use the present value formula for a bond that pays periodi...View the full answer
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