Question
A 7-year 8% semi-annual coupon bond with a face value of 1000$ was issued 3 years ago. The bond is quoted at 92.56 on July
A 7-year 8% semi-annual coupon bond with a face value of 1000$ was issued 3 years ago. The bond is quoted at 92.56 on July 14th 2021. The most recent payment was paid on March 31st 2021. What was the cash price of this bond on July 14th 2021. Show work!
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
