Question
A zero-coupon bond has a yield to maturity of 9% and a par value of $1,000. By convention, zero bonds are assumed to pay $0
A zero-coupon bond has a yield to maturity of 9% and a par value of $1,000. By convention, zero bonds are assumed to pay $0 semi-annually. If the bond matures in eight years, the bond should sell for a price of _______ today.
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Foundations Of Financial Management
Authors: Stanley B Block, Geoffrey A Hirt
12th Edition
0073295817, 9780073295817
