Question
Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 12 years Coupon rate: 7 percent Semiannual payments What is the
Microhard has issued a bond with the following characteristics:
Par: $1,000
Time to maturity: 12 years
Coupon rate: 7 percent
Semiannual payments
What is the price of this bond if the YTM:(Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
a. 7% $____Price of the bond
b. 9% $____Price of the bond
c. 5% $____Price of the bond
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Accounting and Finance An Introduction
Authors: Peter Atrill, Eddie McLaney
8th edition
129208829X, 1292088297, 978-1292088297
