Question
Self-Study Problem 8.02 Crane Corp. issued a four-year bond one year ago with a coupon rate of 8.0 percent. The bond pays interest semiannually. If
Self-Study Problem 8.02
Crane Corp. issued a four-year bond one year ago with a coupon rate of 8.0 percent. The bond pays interest semiannually. If the yield to maturity on this bond is 12 percent, what is the price of the bond? (Round answer to 2 decimal places, e.g. 5,275.25.)
| Price of bond | $ |
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
