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1. Providence College currently has a non-callable A rated (Standard & Poor's) bond outstanding, with a coupon rate of 3.194%, paid semi-annually, due to
1. Providence College currently has a non-callable A rated (Standard & Poor's) bond outstanding, with a coupon rate of 3.194%, paid semi-annually, due to mature at 11/01/2050 (assume 26 full years) at a par value of $1,000. If the bond's required rate of return (or yield to maturity) is 5.24%, at what price is this bond expected to sell?
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
538482109, 1133711774, 538482389, 9780538482103, 9781133711773, 978-0538482387
