Question
4. Calculate the current price of a $5,000 par value bond that has a coupon rate of 15 percent, pays coupon interest quarterly (i.e., 4
4. Calculate the current price of a $5,000 par value bond that has a coupon rate of 15 percent, pays coupon interest quarterly (i.e., 4 times per year), has 24 years remaining to maturity, and has a current yield to maturity (discount rate) of 4 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Peggy L. Hedges, Philip Chang, Keith C. Brown, Hedges Reilly Brown
1st Canadian Edition
0176500693, 978-0176500696
