Question
A company issued 7%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is 7%.
A company issued 7%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is 7%. Interest is paid semiannually. At what price did the bonds sell? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Not sure how to figure this type of question
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Law, Business And Society
Authors: Tony McAdams, Kiren Dosanjh Zucker, Kristofer Neslund, Kari Smoker
12th Edition
1259721884, 978-1259721885
