Question
Bright Sun, Inc. sold an issue of 30-year $1000 par value bonds to the public. The bonds had a 7.32 percent coupon rate and paid
Bright Sun, Inc. sold an issue of 30-year $1000 par value bonds to the public. The bonds had a 7.32 percent coupon rate and paid interest annually. It is now 19 years later. The current market rate of interest on the Bright Sun bonds is 11.46 percent. What is the current market price (intrinsic value) of the bonds?
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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
