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A company issued bonds with a 22-year maturity, a $1,000 par value, a 8.0% coupon rate, and semiannual interest payments. 7 years after the bonds
A company issued bonds with a 22-year maturity, a $1,000 par value, a 8.0% coupon rate, and semiannual interest payments. 7 years after the bonds were issued, the going rate of interest on bonds such as these changed to 10.0%. At what price would the bonds sell?
$724.70 | ||
$1,568.09 | ||
$846.28 | ||
$1,000.00 | ||
$531.7 |
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