Question
A corporate bond has 20 years to maturity, a face value of $1,000, a coupon rate of 4.0%, and pays interest twice a year. The
A corporate bond has 20 years to maturity, a face value of $1,000, a coupon rate of 4.0%, and pays interest twice a year. The annual market interest rate for similar bonds is 5.0%. What is the price of the bond? (round to the nearest penny)
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Lessons In Corporate Finance
Authors: Paul Asquith, Lawrence A. Weiss
2nd Edition
1119537835, 978-1119537830
