Question
A quarterly coupon bond has a face value of $1,000 and a coupon rate of 5.6%. Time to maturity is 12 years and the current
A quarterly coupon bond has a face value of $1,000 and a coupon rate of 5.6%. Time to maturity is 12 years and the current yield to maturity is 4.4%. How much is this bond worth? Round to the nearest cent.
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
