Question
Jacob & Sam has an outstanding issue of 23- year maturity bond with face value of $1,000 and a coupon of 5%, paying coupon interest
Jacob & Sam has an outstanding issue of 23- year maturity bond with face value of $1,000 and a coupon of 5%, paying coupon interest semi-annually.If the market price of this bond is $950, what is the rate of return investors are demanding on this bond?
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
