Question
John-Doe & Co. issued a 12-year bond with 8% yield to maturity and 7% coupon interest rate. If the par value of the bond is
John-Doe & Co. issued a 12-year bond with 8% yield to maturity and 7% coupon interest rate. If the par value of the bond is 1000. What is the price of the bond issued by John Doe & Co. on the maturity date?*
a. 945.54
b. 982.16
c. 990.26
d. 1,000
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
16th edition
125927716X, 978-1259687969, 1259687961, 978-1259277160
