Question
Haswell Enterprises' bonds have a 23-year maturity, a 6.7% coupon, and a par value of $1,000. The going interest rate (rd) is 15.5%. Assuming semiannual
Haswell Enterprises' bonds have a 23-year maturity, a 6.7% coupon, and a par value of $1,000. The going interest rate (rd) is 15.5%. Assuming semiannual compounding, what is the bond's price? Round to two decimal places.
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
