Question
A $25,000 City of Kingston bond issued on July 17, 2007, with five years to maturity has a coupon rate of 5.12%. It was sold
A $25,000 City of Kingston bond issued on July 17, 2007, with five years to maturity has a coupon rate of 5.12%. It was sold on January 10, 2010, at a market rate of 4.18%. Calculate the following:
a) Market Value b) Accrued Interest c) Cash Price
Use calculator variables
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
