Question
Fresh Water, Inc. sold an issue of 5-year $1,000 par value bonds to the public. The bonds have a 8.01 percent coupon rate and pay
Fresh Water, Inc. sold an issue of 5-year $1,000 par value bonds to the public. The bonds have a 8.01 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 8.08 percent. What is the current market price of the bonds?
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Understanding The Finance Of Welfare
Authors: Howard Glennerster
2nd Edition
1847421091, 978-1847421098
