Question
Sandhill, Inc., has issued a three-year bond that pays a coupon rate of 8.1 percent. Coupon payments are made semiannually. Given the market rate of
Sandhill, Inc., has issued a three-year bond that pays a coupon rate of 8.1 percent. Coupon payments are made semiannually. Given the market rate of interest of 4.2 percent, what is the market value of the bond? (Round answer to 2 decimal places, e.g. 15.25.)
| Market value: |
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Financial Decisions And Markets A Course In Asset Pricing
Authors: John Y. Campbell
1st Edition
0691160805, 978-0691160801
