Question
A bond with 12 years to maturity and a coupon rate of 8% has a par, or face, value of $21,000. Interest is paid annually.
A bond with 12 years to maturity and a coupon rate of 8% has a par, or face, value of $21,000. Interest is paid annually. If you require a return of 12% on this bond, what is the price of the bond?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
