Question
Madsen Motors's bonds have 11 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 9.5%;
Madsen Motors's bonds have 11 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 9.5%; and the yield to maturity is 8%. What is the bond's current market price? Round your answer to the nearest cent.
$
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Essentials Of Real Estate Finance
Authors: Doris Barrell
15th Edition
1475462077, 978-1475462074
