Question
A 4-years security had annual coupon of 10%. The interest rates in years 1, 2, 3 and 4 respectively are: 9%, 10%, 11% and 12%.
A 4-years security had annual coupon of 10%. The interest rates in years 1, 2, 3 and 4 respectively are: 9%, 10%, 11% and 12%. What is this bond price, per $1000 par?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
