Question
Black Water Corp. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 20 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 20 years and a yield to maturity of 14.58 percent, compounded annually. What is the current price of the bond? Round the answer to two decimal places
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Financial Risk Manager Handbook
Authors: Philippe Jorion
6th Edition
0470904011, 978-0470904015
