Question
A bond is in a risk class that pays 5% per year. The bond pays annual interest of $400 (and the first interest payment is
A bond is in a risk class that pays 5% per year. The bond pays annual interest of $400 (and the first interest payment is one year from today) and will mature in 10 years at a value of $10,000. What is the price of the bond?
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Fundamentals Of Financial Planning
Authors: Michael A Dalton, Joseph Gillice
3rd Edition
1936602091, 9781936602094
