Question
A corporate bond with a face value of $100,000 was issued six years ago and there are nine years remaining until maturity. The bond pays
A corporate bond with a face value of $100,000 was issued six years ago and there are nine years remaining until maturity. The bond pays semi-annual coupon payments of $4500, the coupon rate is 9% pa paid twice yearly and rates in the marketplace are 8% pa compounded semi-annually. What is the value of the bond today?
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Finance Markets Investments And Financial Management
Authors: Daisy Scott
1st Edition
1639892001, 9781639892006
