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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity:23 years Coupon rate: 11 percent Semiannual payments Calculate the price of
| Microhard has issued a bond with the following characteristics: |
| Par: $1,000 |
| Time to maturity:23 years |
| Coupon rate: 11 percent |
| Semiannual payments |
| Calculate the price of this bond if the YTM is(Do not round intermediate calculations and round your answersto 2 decimal places, e.g., 32.16.): |
| Price of the Bond | ||
| a. | 11 percent | $ |
| b. | 14 percent | $ |
| c. | 8 percent | $ |
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Business Mathematics
Authors: Gary Clendenen, Stanley A Salzman, Charles D Miller
12th Edition
0135109787, 9780135109786
