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(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 16 years and has a $1,000 par value. The annual
(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 16 years and has a $1,000 par value. The annual coupon interest rate is 12 percent and the market's required yield to maturity on a comparable-risk bond is 11 percent. The value of the bond is $. (Round to the nearest cent.) Step by Step Solution
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Numerical Methods In Finance
Authors: René Carmona, Pierre Del Moral, Peng Hu, Nadia Oudjane
2012th Edition
3642257453, 978-3642257452
