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A 15-year bond has an annual coupon rate of 8% for the first 5 years, 10% for the next 5 years, 12% for the last
A 15-year bond has an annual coupon rate of 8% for the first 5 years, 10% for the next 5 years, 12% for the last 5 years, and matures at its par value of 1000. The bond is bought to produce an effective annual yield rate of 10%. Determine the price of the bond
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Personal Finance
Authors: E. Thomas Garman, Raymond E. Forgue, Jonathan Fox
14th Edition
