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please help! Assume that you are considering the purchase of a 20 -year, bond with an annual coupon rate of 10%. The bond has a
please help! 
Assume that you are considering the purchase of a 20 -year, bond with an annual coupon rate of 10%. The bond has a par value of $1,000, and it makes semiannual interest payments. If you require an 12% yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? Explain why the price is different from the par value Step by Step Solution
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Financial Management Principles And Applications
Authors: Dr. S. Kr. Paul, Prof. Chandrani Paul
1st Edition
1647251664, 9781647251666
