Question
MerryMart Corporation's bonds have a 15-year maturity, a 6.25% semiannual coupon, and a par value of P1,000. The going interest rate (yield) is 5.20%, based
MerryMart Corporation's bonds have a 15-year maturity, a 6.25% semiannual coupon, and a par value of P1,000. The going interest rate (yield) is 5.20%, based on semiannual compounding.What is the bond's price? (Remember that rates are expressed in annual terms)
a. P1,129
b. P1,108
c. P1,157
d. P1,102
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
1259259803, 978-1259259807
