Question
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 10.63 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 10.63 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 8.67 percent. What is the current market price (intrinsic value) of the bonds?
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
12th Global Edition
1292268859, 978-1292268859
