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Royal Caribbean Cruises relies in part on debt to finance their ships and other assets. A previously-issued note denominated in dollars matures in six years
Royal Caribbean Cruises relies in part on debt to finance their ships and other assets. A previously-issued note denominated in dollars matures in six years with a coupon rate of 7.50% (payable semi-annual) priced to yield @ 5.10%. Determine the market price of $8 million-USD par or face value of these notes.
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