Question
Calculate the current price of a $5,000 par value bond that has a coupon rate of 14 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 14 percent, pays coupon interest quarterly (i.e., 4 times per year), has 28 years remaining to maturity, and has a current yield to maturity (discount rate) of 18 percent. (Round your answer to 2 decimal places and record without dollar sign or commas)
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Foundations Of Financial Markets And Institutions
Authors: Franco Modigliani, Frank J. Jones, Michael G. Ferri, Frank J. Fabozzi
3rd Edition
0130180793, 978-0130180797
