Question
20) You buy an 8 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2014, rates on bonds of similar risk
20)
| You buy an 8 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2014, rates on bonds of similar risk are up to 10 percent. |
| What is your one best guess as to the value of the bond? |
| Value of the bond | $ |
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Basic Finance An Introduction to Financial Institutions, Investments and Management
Authors: Herbert B. Mayo
11th Edition
1285425790, 1285425795, 9781305464988 , 978-1285425795
