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A 15-year bond has a par value of $1000 and a coupon rate of 5% (paid semiannually). Assume that the interest rate is equal to
A 15-year bond has a par value of $1000 and a coupon rate of 5% (paid semiannually). Assume that the interest rate is equal to 3% per year. What is the bond's present value?
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
