Question
Freiburg Faucets Incorporated issued 30.00-year bonds 5.00 years ago with a coupon rate of 9.50% APR. The bonds pay semi-annual coupons, have a face value
Freiburg Faucets Incorporated issued 30.00-year bonds 5.00 years ago with a coupon rate of 9.50% APR. The bonds pay semi-annual coupons, have a face value of $1,000 each and were issued at par value. What is the price of the Freiburg bonds today if investors want a 7.45% APR return for bonds of similar risk and maturity? Round to 2 decimal places
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Financial Management For Public Health And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
7th Edition
1071835335, 978-1071835333
