Question
A year ago, Alpha Supply issued 15-year bonds at par. The bonds have a coupon rate of 6.5 percent, are paid semiannually, and have a
A year ago, Alpha Supply issued 15-year bonds at par. The bonds have a coupon rate of 6.5 percent, are paid semiannually, and have a face value of $1,000. Today, the market yield on these bonds is 7.2 percent. What is the percentage change in the price of the bond over the past year?
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Financial Accounting
Authors: Jamie Pratt, Michael F Peters
11th Edition
1119745322, 978-1119745327
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