Question
A corporate bond has a face value of $10,000, a coupon rate of interest of 8.25% per annum, payable semi-annually, and six and a half
A corporate bond has a face value of $10,000, a coupon rate of interest of 8.25% per annum, payable semi-annually, and six and a half years remaining to maturity. The market interest rate for bonds of similar risk and maturity is currently 9.5% per annum, what is the present value of the bond?
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Principles of Managerial Finance
Authors: Chad J. Zutter, Scott B. Smart
15th edition
013447631X, 134476315, 9780134478197 , 978-0134476315
