Question
Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 27 years and a yield to
Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 27 years and a yield to maturity of 9.88 percent, compounded semi-annually. What is the current price of the bond?
Round the answer to two decimal places.
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Fixed Income Analysis
Authors: Barbara S. Petitt
5th Edition
1119850541, 978-1119850540
