Question
Q 11. Three years ago, TriBand Bonds were issued at par with a 13 year maturity. The face value is $1000. The coupon rate is
Q 11. Three years ago, TriBand Bonds were issued at par with a 13 year maturity. The face value is $1000. The coupon rate is 8.9% and coupons are paid semiannually. If investors now demand a yield of 10% compound semiannually, find the current price of the bond. Answer should be to 2 decimal places and based on $1000 face.
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Auditing The Art And Science Of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser-Hogeterp
11th Edition
0132088061, 978-0132088060
