Question
Fresh Water, Inc. sold an issue of 8-year $1,000 par value bonds to the public. The bonds have a 8.02 percent coupon rate and pay
Fresh Water, Inc. sold an issue of 8-year $1,000 par value bonds to the public. The bonds have a 8.02 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 9.14 percent. What is the current market price of the bonds?
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Focus On Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
5th Edition
0077861744, 978-0077861742
