Question
Black Water Corp. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 30 years and a yield to
Black Water Corp. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 30 years and a yield to maturity of 9.55 percent, compounded annually. What is the current price of the bond?
Round the answer to two decimal places.
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
