Question
A company has an outstanding bond issue with a face value of $1,000 and a coupon rate of 6%. The bonds have 10 years remaining
A company has an outstanding bond issue with a face value of $1,000 and a coupon rate of 6%. The bonds have 10 years remaining until maturity and pay interest semi-annually. The current market interest rate for bonds with similar risk is 8%. What is the bond's price?
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
13th Edition
9780132738729, 136119468, 132738724, 978-0136119463
