Question
A 4.35 percent coupon municipal bond has 15 years left to maturity and has a price quote of 107.50. The bond can be called in
| A 4.35 percent coupon municipal bond has 15 years left to maturity and has a price quote of 107.50. The bond can be called in eight years. The call premium is one year of coupon payments. (Assume interest payments are semiannual and a par value of $5,000.) |
| Compute the bond |
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M Finance
Authors: Marcia Cornett, Troy Adair, John Nofsinger
3rd Edition
0077861779, 978-0077861773
