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 14
Calculate the value of a bond that matures in 12 years and has a $ 1,000 par value. The annual coupon interest rate is 14 percent and the market's required yield to maturity on a comparable-risk bond is 15 percent.
The value of the bond is $ ?
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Essentials Of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan
9th International Edition
1259254801, 9781259254802
