Question
2. $500 par value debenture paying coupon of $12 per annum is redeemed at par in 5 years. The average annual discount rate is 8%.
2. $500 par value debenture paying coupon of $12 per annum is redeemed at par in 5 years. The average annual discount rate is 8%. Coupons are paid annually, what is the price of this debt by general floating equation (long cut formula)?
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Design Of Cost Management Systems
Authors: Robin Cooper, Robert S. Kaplan
2nd Edition
0135704170, 978-0135704172
