Question
A New Brunswick Power bond issue carrying a 7.6% coupon matures on November 1, 2031. At what price did $1,000 face value bonds trade on
A New Brunswick Power bond issue carrying a 7.6% coupon matures on November 1, 2031. At what price did $1,000 face value bonds trade on June 10, 2019, if the yield to maturity required by the bond market on that date was 5.9% compounded semiannually?
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Derivatives Markets
Authors: Rober L. Macdonald
4th edition
321543084, 978-0321543080
