Question
Calculate the value of a bond that matures in 12 years and has a $ 1,000 par value. The annual coupon interest rate is 15
Calculate the value of a bond that matures in 12 years and has a $ 1,000 par value. The annual coupon interest rate is 15 percent and the market's required yield to maturity on a comparable-risk bond is 12 percent.
The value of the bond is $?
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Financial Markets And Institutions
Authors: Jeff Madura
8th Edition
0324568215, 978-0324568219
