Question
Pet Food Company bonds pay an annual coupon rate of 7.02 percent. Coupon payments are paid semiannually. Bonds have 11 years to maturity and par
Pet Food Company bonds pay an annual coupon rate of 7.02 percent. Coupon payments are paid semiannually. Bonds have 11 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 11.60 percent.
Round the answer to two decimal places.
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School Finance And Business Management Optimizing Fiscal Facility And Human Resources
Authors: Craig A. Schilling, Daniel R. Tomal
2nd Edition
1475844026, 978-1475844023
