Question
Exodus Limousine Company has $1,000 par value bonds outstanding at 9 percent interest. The bonds will mature in 30 years with annual payments. UseAppendix BandAppendix
Exodus Limousine Company has $1,000 par value bonds outstanding at 9 percent interest. The bonds will mature in 30 years with annual payments. UseAppendix BandAppendix D.
Compute the current price of the bonds if the current yield to maturity is:(Round "PV Factor" to 3 decimal places. Do not round intermediate calculations. Round the final answers to 2 decimal places.)
Price of the bond
a. 4 percent$
b. 14 percent$
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
