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Determine the price of a $2.0 million bond issue under each of the following independent assumptions: 1. Maturity 12 years, interest paid annually, stated rate
Determine the price of a $2.0 million bond issue under each of the following independent assumptions: 1. Maturity 12 years, interest paid annually, stated rate 8%, effective (market) rate 10%. 2. Maturity 12 years, interest paid semiannually, stated rate 8%, effective (market) rate 12%. 3. Maturity 12 years, interest paid semiannually, stated rate 11%, effective (market) rate 12%. 4. Maturity 15 years, interest paid semiannually, stated rate 11%, effective (market) rate 12%. 5. Maturity 15 years, interest paid semiannually, stated rate 10%, effective (market) rate 10%
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