Question
Exodus Limousine Company has $1,000 par value bonds outstanding at 13 percent interest. The bonds will mature in 50 years with annual payments. Compute the
Exodus Limousine Company has $1,000 par value bonds outstanding at 13 percent interest. The bonds will mature in 50 years with annual payments.
Compute the current price of the bonds if the current yield to maturity is: (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round the final answers to 2 decimal places.)
a. 8 percent$
b. 18 percent$
PLEASE ANSWER THE PRICE OF THE BOND FOR A AND B
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Foundations In Personal Finance
Authors: Dave Ramsey
3rd Edition
1936948524, 978-1936948529
