Question
Andrews wants to retire the following bond early: Series - 10.4S2031 Face - $6,000,000 Yield - 12.4% Close - $83.99 Assuming no brokerage fees, calculate
Andrews wants to retire the following bond early:
Series - 10.4S2031
Face - $6,000,000
Yield - 12.4%
Close - $83.99
Assuming no brokerage fees, calculate the amount of cash needed to retire the bond.
$960,867
$5,039,133
$6,000,000
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
