Question
5 years ago, NU Tech sold an issue of 30-year semi-annual bonds with a 6% coupon rate. If a bond with similar risk has a
5 years ago, NU Tech sold an issue of 30-year semi-annual bonds with a 6% coupon rate. If a bond with similar risk has a YTM of 5.3% now, what is the current price of the bond by NU Tech? (Please answer in decimal format and keep 2 decimal places. Do not include "$" in your answer. Assume the face value is $1000.)
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Cases In Financial Management
Authors: I.M. Pandey
3rd Edition
0071333428, 978-0071333429
