Question
Assume a par value of $1,000. Caspian Sea plans to issue a 3.00 year, annual pay bond that has a coupon rate of 16.00%. If
Assume a par value of $1,000. Caspian Sea plans to issue a 3.00 year, annual pay bond that has a coupon rate of 16.00%. If the yield to maturity for the bond is 16.0%, what will the price of the bond be?
Answer format: Currency: Round to: 2 decimal places.
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Personal Finance
Authors: Jeff Madura
4th Edition
0136117007, 9780136117001
