Question
Calculate the value of a bond that matures in 11 years and has a $1,000 par value. The annual coupon interest rate is 16 percent
Calculate the value of a bond that matures in 11 years and has a $1,000 par value. The annual coupon interest rate is 16 percent and the market's required yield to maturity on a comparable-risk bond is 9 percent.
The value of the bond is
$ (Round to the nearest cent
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Finance For Growing Enterprises
Authors: Edward W. Davis, Roger Buckland
1st Edition
1138679941, 978-1138679948
