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. Use Appendix
Exodus Limousine Company has $1,000 par value bonds outstanding at 9 percent interest. The bonds will mature in 30 years with annual payments. Use Appendix B and Appendix 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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Sport Finance
Authors: Gil Fried, Steven Shapiro, Timothy D. Deschriver
2nd Edition
0736067701, 978-0736067706
