Question
Eight years ago, the City of Maryville, PA., sold at par a $1,000 bond with a coupon rate of 8 percent and 20 years to
Eight years ago, the City of Maryville, PA., sold at par a $1,000 bond with a coupon rate of 8 percent and 20 years to maturity. If this bond pays interest semiannually, what is the value of this bond to an investor who requires an 8 percent rate of return?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
9th Edition
0134519264, 9780134519265
