Question
A bond has a face value (and redemption value) of $504,000, and pays coupons annually. The effective annual yield is 4 times the coupon rate.
A bond has a face value (and redemption value) of $504,000, and pays coupons annually. The effective annual yield is 4 times the coupon rate. The present value of the redemption amount is 3 times the present value of the coupon stream. What is the price of the bond?
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Foundations In Personal Finance
Authors: Dave Ramsey
1st Edition
0981683967, 978-0981683966
