Question
(Bond valuation) Merck made a coupon payment yesterday on its 6.25% bonds that mature in 11.5 years. If the required return on these bonds is
(Bond valuation) Merck made a coupon payment yesterday on its 6.25% bonds that mature in 11.5 years. If the required return on these bonds is 9.2% nominal annual, what should be the market price of these bonds?
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Fixed Income Markets And Their Derivatives
Authors: Suresh Sundaresan
3rd Edition
0123850517, 978-0123704719
