Question
Martinez Motors bonds have 18 years remaining to maturity. Interest is paid annually, they have a $1,000 par value; the coupon interest rate is 9
Martinez Motors bonds have 18 years remaining to maturity. Interest is paid annually, they have a $1,000 par value; the coupon interest rate is 9 percent; and the yield to maturity is 8.5 percent. What is the bond's current market price?
a. $1,000
b. $1,045.28
c. $1,090.00
d. $853. 53
e. $814.99
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Principles Of Finance With Excel
Authors: Simon Benninga
2nd Edition
0199755477, 9780199755479
