Question
A bond makes annual coupon payments, has an annual coupon rate of 11 percent , a maturity of 20 years, and a face value of
A bond makes annual coupon payments, has an annual coupon rate of 11 percent , a maturity of 20 years, and a face value of $1,000. The market further believes that the yield to maturity (YTM) for this bond is equal to 8.83 percent (annual rate). Estimate the current price for this bond.
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Real Estate Finance And Investments
Authors: William Brueggeman, Jeffrey Fisher
17th Edition
1264072945, 978-1264072941
