Question
Fresh water inc sold an issue of 25 year $1,000 par value bonds to the public. The bonds have a 10.25 percent coupon rate and
Fresh water inc sold an issue of 25 year $1,000 par value bonds to the public. The bonds have a 10.25 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water Inc. bonds is 12.48 percent. What is the current market price of the bonds?
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Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
12th edition
1259720683, 978-1259720680
