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(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 19 years and has a $1,000 par value. The
(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 19 years and has a $1,000 par value. The annual coupon interest rate is 13 percent and the market's required yield to maturity on a comparable-risk bond is 14 percent. The value of the bond is $ (Round to the nearest cent.)
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
