Question
1 a) A bond with a par value of $1000 makes semiannual coupon payments of $59. What is its coupon rate?(Round to one decimal place).
1 a) A bond with a par value of $1000 makes semiannual coupon payments of $59. What is its coupon rate?(Round to one decimal place).
b) A semiannual coupon bond with face value of $1000 has a coupon rate of 8% and matures in 13 years. The market-determined discount rate on this bond is 13%. What is the price of the bond? Round to the penny.
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
