Example 6.2.3\ A corporation decided to issue 15-year bonds in the amount of\

$10,000,000

. Under the contract, interest payment will be\ make at the rate

j_(2)=6%

. The bonds are priced to yield

j_(12)=5%

\ compound monthly. What is the issue price of the bond?

A corporation decided to issue 15 -year bonds in the amount of $10,000,000. Under the contract, interest payment will be make at the rate j2=6%. The bonds are priced to yield jl2=5% compound monthly. What is the issue price of the bond