Question
M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 9.79% with bond interest
M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 9.79% with bond interest payable semiannually. Six years ago, $1,075 was paid for the bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be:
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese
6th Edition
978-1506396811, 150639681X
