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please answer Madsen Motors's bonds have 9 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate
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Madsen Motors's bonds have 9 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 12%, and the yield to maturity is 14%. What is the bond's current market price? Round your answer to the nearest cent Step by Step Solution
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
7th Edition
0321122356, 978-0321122353
