Question
ABC Inc. recently issued $1,000 par bonds at a 7.35% coupon rate. If the bonds have 18 years to maturity and a YTM of 19.05%,
ABC Inc. recently issued $1,000 par bonds at a 7.35% coupon rate. If the bonds have 18 years to maturity and a YTM of 19.05%, what is the current price of the bond? Assume semi-annual compounding.
Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
8th Edition
0324065914, 9780324065916
