Question
A 20-year bond issue of 5,100,000 and bearing interest at 4% payable annually is sold to yield 4.3% compounded quarterly. What is the issue price
A 20-year bond issue of 5,100,000 and bearing interest at 4% payable annually is sold to yield 4.3% compounded quarterly. What is the issue price of thebonds?
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
13th Edition
978-0134083308, 013408330X
