Question
Calculate the value of a bond that matures in 12 years and has a $1000 par value. The annual coupon interest rate is 8 percent
Calculate the value of a bond that matures in 12 years and has a $1000 par value. The annual coupon interest rate is 8 percent and the market's required yield to maturity on a comparable risk bond is 12 percent.
The value of the bond is $? (Round to the nearest cent)
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
