Question
Exodus Limousine Company has $1,000 par value bonds outstanding at 20 percent interest. The bonds will mature in 30 years. Compute the current price of
Exodus Limousine Company has $1,000 par value bonds outstanding at 20 percent interest. The bonds will mature in 30 years.
Compute the current price of the bonds if the percent yield to maturity is:
a. 10%
b. 6%
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Get StartedRecommended Textbook for
Entrepreneurial Finance
Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
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