Question
a 25 year maturity mortgage backed bond is issued. the bond has a par value of $6,000 and promises to pay an 7& percent annual
a 25 year maturity mortgage backed bond is issued. the bond has a par value of $6,000 and promises to pay an 7& percent annual coupon. At issue, bond market investors require a 12% interest rate don't he bond. What is the initial price on the bond?
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An Introduction To Real Estate Finance
Authors: Edward Glickman
1st Edition
0123786266, 9780123786265
