Question
General Mills has a $1,000 par value, 29-year to maturity bond outstanding with an annual coupon rate of 10.04 percent per year, paid semiannually. Market
General Mills has a $1,000 par value, 29-year to maturity bond outstanding with an annual coupon rate of 10.04 percent per year, paid semiannually. Market interest rates on similar bonds are 10.87 percent. Calculate the bonds price today. Round the answer to two decimal places
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Financial Times Guide To The Financial Markets
Authors: Glen Arnold
1st Edition
0273730002, 978-0273730002
