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please show how to get this answer on a financial calculator, thank you! 3. J&J Manufacturing just issued a bond with a S1,000 face value
please show how to get this answer on a financial calculator, thank you!
3. J&J Manufacturing just issued a bond with a S1,000 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 1S is 7.5%, what will the bond sell for? a. $950.91 b. $580.15 c. $1,050.97 d. $1,051.38 e. None of the aboveStep by Step Solution
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