Question
Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 12 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 12 years and a yield to maturity of 11.54 percent, compounded semi-annually. What is the current price of the bond?
Round to two decimal places
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
10th Edition
1260013820, 978-1260013825
