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A bond costs $1,550 and pays $138 forever (Note: The principal never has to be repaid here). If the fair interest rate is 9%, what's
A bond costs $1,550 and pays $138 forever (Note: The principal never has to be repaid here). If the fair interest rate is 9%, what's the fair price of the bond?
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Municipal Finances A Handbook For Local Governments
Authors: Catherine D. Farvacque-Vitkovic, Mihaly Kopanyi
1st Edition
082139830X, 978-0821398302
