Question
A firm has an issue of $1000 par value bonds with a 12 percent coupon. The issue pays interest annually and has 10 years remaining
A firm has an issue of $1000 par value bonds with a 12 percent coupon. The issue pays interest annually and has 10 years remaining to its maturity date. If bonds of the same risk are currently earning 8 percent, what is the price of the bond?
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School Finance A Policy Perspective
Authors: Allan Odden, Lawrence Picus
5th Edition
0078110289, 978-0078110283
