Question
How much should you pay for a bond that has a $1,000 par value, stated interest rate of 5% annually, and that matures in 8
How much should you pay for a bond that has a $1,000 par value, stated interest rate of 5% annually, and that matures in 8 years?The bond pays semi-annual interest rates.The current market interest rate is 4%.
I need explanation step by step I don't understand it
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CFIN
Authors: Scott Besley, Eugene Brigham
5th edition
1305661656, 9781305888036 , 978-1305666870
