Question
Calculate the current price of a $1,000 par value bond that has a coupon rate of 20 percent, pays coupon interest semi-annually, has 19 years
Calculate the current price of a $1,000 par value bond that has a coupon rate of 20 percent, pays coupon interest semi-annually, has 19 years remaining to maturity, and has a current yield to maturity (discount rate) of 7 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
