Question
Java Spirit Ltd. intends to issue a new series of bonds on January 1, 2024, with a $1,000 par value. They are expected to mature
Java Spirit Ltd. intends to issue a new series of bonds on January 1, 2024, with a $1,000 par value. They are expected to mature in 21 years and will have a coupon rate of 6.5%, paid semi-annually. What is the expected price of the bond on December 31, 2029, if interest rates were 8%?
The values to be used in the formula are Type you answer as follows: C = $XX.XX, i = X%, and n = XX Answer:
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Financing Nonprofits Putting Theory Into Practice
Authors: Young, Dennis R.
1st Edition
0759109885,0759114129
