Question
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 9.36 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 9.36 percent coupon rate and paid interest annually. It is now 9 years later. The current market rate of interest on the Bright Sun bonds is 8.18 percent. What is the current market price (intrinsic value) of the bonds?
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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi
6th Edition
0131986430, 9780131986435
