Question
Bank of America has a 6%, annual coupon bond that will mature in 14 years. The interest rate for bonds like this is currently 4.24%.
Bank of America has a 6%, annual coupon bond that will mature in 14 years. The interest rate for bonds like this is currently 4.24%. Assuming the par value is $1,000, what is the current price of this bond?
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
7th Edition
0324171730, 978-0324171730
