Question
Calculate the current price of a $5,000 par value bond that has a coupon rate of 16 percent, pays coupon interest quarterly (i.e., 4 times
Calculate the current price of a $5,000 par value bond that has a coupon rate of 16 percent, pays coupon interest quarterly (i.e., 4 times per year), has 22 years remaining to maturity, and has a current yield to maturity (discount rate) of 4 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
