Garrison's company issued a $1000.00, 20 yr semi-annual bond 5 years ago, with a coupon rate of 5%. Current market rates have dropped to 3.5%.
Garrison's company issued a $1000.00, 20 yr semi-annual bond 5 years ago, with a coupon rate of 5%. Current market rates have dropped to 3.5%. If the company issued 95000 bonds, what is the total value of debt for Garrison's company? (please round to the nearest dollar)
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Authors: Mike E. Miles, Laurence M. Netherton, Adrienne Schmitz
5th Edition
0874203430, 978-0874203431
