Question
A coupon bond that pays interest semiannually has a par value of $1000, matures in 3 years, and has a yield to maturity of 3%.
A coupon bond that pays interest semiannually has a par value of $1000, matures in 3 years, and has a yield to maturity of 3%. If the coupon rate is 9%, the value of the bond today will be __________.
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Financial Institutions Management A Risk Management Approach
Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders
8th edition
978-0078034800, 78034809, 978-0071051590
