Question
Fresh Water, Inc. sold an issue of 10-year $1,000 par value bonds to the public. The bonds have a 11.68 percent coupon rate and pay
Fresh Water, Inc. sold an issue of 10-year $1,000 par value bonds to the public. The bonds have a 11.68 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 9.61 percent. What is the current market price of the bonds?
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
2nd Edition
0131471988, 978-0131471986
