Question
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 13.00 percent coupon rate and paid
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 13.00 percent coupon rate and paid interest annually. It is now 13 years later. The current market rate of interest on the Bright Sun bonds is 12.05 percent. What is the current market price (intrinsic value) of the bonds?
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
