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please show how to get this answer on a financial calculator, thank you! 10. J&J Manufacturing just issued a bond with a $1,000 face value
please show how to get this answer on a financial calculator, thank you!
10. J&J Manufacturing just issued a bond with a $1,000 face value and a coupon rate of 8%. If the bond has a life of 20 years, pays annual coupons, and the yield to maturity is 7.5%, what will the bond sell for? a. 950.91 b. $1000.00 c. $1,050.97 d. $1,051.38 e. None of the aboveStep by Step Solution
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