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(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 15 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 15 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 12 percent. The value of the bond is $ (Round to the nearest cent.) Step by Step Solution
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Investment Science
Authors: David G. Luenberger
2nd Edition
0199740089, 978-0199740086
