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eBook Problem 13-07 Fifteen years ago, your grandfather purchased for you a 20-year $1,000 bond with a coupon rate of 10 percent. You now
eBook Problem 13-07 Fifteen years ago, your grandfather purchased for you a 20-year $1,000 bond with a coupon rate of 10 percent. You now wish to sell the bond and read that yields are 9 percent. What price should you receive for the bond? Assume that the bond pays interest annually. Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar. $
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Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
