Question
Calculate the value of a bond that matures in 13 years and has a $1,000 par value. The annual coupon interest rate is 15 percent
Calculate the value of a bond that matures in 13 years and has a $1,000 par value. The annual coupon interest rate is 15 percent and themarket's required yield to maturity on acomparable-risk bond is 12 percent.
The value of the bond is __________. (Round to the nearestcent.)
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
