Question
A bond has 15 years to maturity, and annual coupon rate is 8%. If the coupons are paid semi-annually and the yield to maturity is
A bond has 15 years to maturity, and annual coupon rate is 8%. If the coupons are paid semi-annually and the yield to maturity is 10%, find the price of the bond. (Assume the face value is 1000). Plug in only your final answer.
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
8th Edition
1264098723, 978-1264098729
