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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 9 years Coupon rate: 12 percent Semiannual payments Calculate the price
Microhard has issued a bond with the following characteristics:
Par: $1,000
Time to maturity: 9 years
Coupon rate: 12 percent
Semiannual payments
Calculate the price of this bond if the YTM is
a. 12%
b. 14%
c. 10%
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