Question
6. In 2014, AT&T issued 10-year bonds with a coupon that pays $93.75 annually. At the time of issue, the bonds sold at par. Today,
6. In 2014, AT&T issued 10-year bonds with a coupon that pays $93.75 annually. At the time of issue, the bonds sold at par. Today, bonds of similar risk and maturity must pay an annual coupon of 7.25% to sell at par value. Assuming semi-annual payments an a 7.25% yield to maturity, what is the current price of the firm's bonds? as per financial calculator, What is pv=?, i/y+?,n=?,PMT=?,FV=?
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Financial Accounting
Authors: Alan Melville
2nd Edition
0273634399, 978-0273634393
