Question
Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 7 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 7 years and a yield to maturity of 9.33 percent, compounded semi-annually. What is the current price of the bond?
Round the answer to two decimal places
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
