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J&J Manufacturing issued a bond 5 years ago with a $1,000 face value, coupon rate of 5%, maturity of 20 years and the bond was
J&J Manufacturing issued a bond 5 years ago with a $1,000 face value, coupon rate of 5%, maturity of 20 years and the bond was sold at Par. Today, the yield to maturity is 6.4%. What is the market price of the Bond? $933.75 $815.27 $895.36 $945.35 $846.79 Step by Step Solution
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Public Finance
Authors: Harvey Rosen, Ted Gayer
8th Edition
0073511285, 9780073511283
