Question
A 10-year corporate bond pays interest of $45 every six months and will mature for $1,000. The yield to maturity on this bond is currently
A 10-year corporate bond pays interest of $45 every six months and will mature for $1,000. The yield to maturity on this bond is currently 7.48 percent. Given this information, determine the current price of this bond.
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Fundamentals of Multinational Finance
Authors: Michael H. Moffett, Arthur I. Stonehill, David K. Eiteman
5th edition
205989756, 978-0205989751
