Question
Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 15 years Coupon rate: 7 percent Semiannual payments Calculate the price
Microhard has issued a bond with the following characteristics:
Par: $1,000
Time to maturity: 15 years
Coupon rate: 7 percent
Semiannual payments
Calculate the price of this bond if the YTM is (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.):
| Price of the Bond | ||
| a. | 7 percent | $ |
| b. | 9 percent | $ |
| c. | 5 percent | $ |
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Public Finance A Contemporary Application of Theory to Policy
Authors: David N Hyman
11th edition
9781305474253, 1285173953, 1305474252, 978-1285173955
