Question
Calculate the value of a bond that matures in 20years and has a $ 1 000 face value. The bond pays an annual interest and
Calculate the value of a bond that matures in 20years and has a $ 1 000 face value. The bond pays an annual interest and the coupon rate is 14% and the market's required yield to maturity on a comparable-risk bond is 13%.
The value of the bond is $_________
Round tothe nearest dollar
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
14th edition
1337090581, 978-1337090582
