Question
Problem 7-1 A bond that pays 6% interest compounded annually on a $1,000 face value will mature in 24 years. The interest rate is now
Problem 7-1
A bond that pays 6% interest compounded annually on a $1,000 face value will mature in 24 years. The interest rate is now 8%. What should the bonds market price be? Do not round intermediate calculations. Round PVFA and PVF values in intermediate calculations to four decimal places. Round your answer to the nearest cent.
$
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
10th Edition
053875446X, 978-0538754460
