Question
Kim Shaw is considering the purchase of a 5 year bond that pays a coupon rate of 7.75 % over the life of the bond
Kim Shaw is considering the purchase of a 5 year bond that pays a coupon rate of 7.75% over the life of the bond (annual payments) and a face value of $1000 that is returned at the bond's maturity. Using a yield to maturity of 8.50%, calculate to the nearest penny the value of the bond today.
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New Issues In Financial Institutions Management
Authors: F Fiordelisi, P Molyneux, D Previati
2010th Edition
0230278108, 978-0230278103
