Question
A bond with 9 years to maturity and a coupon rate of 11% has apar, orface, value of $19,000. Interest is paid annually. If you
A bond with 9 years to maturity and a coupon rate of 11% has apar, orface, value of $19,000. Interest is paid annually. If you require a return of 15% on thisbond, what is the price of thebond?
The value of the bond is $ ______________
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Analysis for Financial Management
Authors: Robert Higgins
11th edition
77861787, 978-0077861780
