Question
(Bond valuation) Calculate the value of a bond that matures in 18 years and has a $1,000 par value. The annual coupon interest rate is
(Bond valuation)Calculate the value of a bond that matures in 18 years and has a $1,000 par value. The annual coupon interest rate is 14 percent and themarket's required yield to maturity on acomparable-risk bond is 8 percent.
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
