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A $1000 par value bond was issued 25 years ago at a 7 percent coupon rate. It currently has 10 years remaining to maturity. Interest
A $1000 par value bond was issued 25 years ago at a 7 percent coupon rate. It currently has 10 years remaining to maturity. Interest rates on similar debt obligations are now 12 percent. Compute the current price of the bond using an assumption of semiannual payments
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Financial Management Core Concepts
Authors: Raymond M Brooks
2nd edition
132671034, 978-0132671033
