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5. Mr. Joey bought a bond issued by City bank which has a $1,000 face value and pays semi- annual interest will mature in
5. Mr. Joey bought a bond issued by City bank which has a $1,000 face value and pays semi- annual interest will mature in 9 years. The return on similar-risk investments is 12 percent and the bond pays $54 interest per year. Calculate the current market value (price) of the bond & what will be the yield to maturity? (3+3=6)
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a Face value of bond 1000 interest per year 54 Semiannual interest Annual interest half yearly coupo...
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Contemporary Auditing
Authors: Michael C. Knapp
8th edition
978-0538466790, 538466790, 978-1285066608
