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In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 8.5 percent. Today, comparable bonds are paying 5.00 percent.
In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 8.5 percent. Today, comparable bonds are paying 5.00 percent. What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Approximate market value $ 8,270,796.67 x
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Fundamental Accounting Principles Volume II
Authors: Larson Kermit, Jensen Tilly
14th Canadian Edition
71051570, 0-07-105150-3, 978-0071051576, 978-0-07-10515, 978-1259066511
