Question
24 #2 Assume a par value of $1,000. Caspian Sea plans to issue a 7.00 year, semi-annual pay bond that has a coupon rate of
24 #2
Assume a par value of $1,000. Caspian Sea plans to issue a 7.00 year, semi-annual pay bond that has a coupon rate of 7.94%. If the yield to maturity for the bond is 8.17%, what will the price of the bond be?
Answer format:Currency: Round to: 2 decimal places.
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Personal Finance
Authors: Jeff Madura
5th edition
132994348, 978-0132994347
