Question
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity a face value of $1000 , and a coupon rate of
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity a face value of $1000 , and a coupon rate of 7.3 %(annual payments). The yield to maturity on this bond when it was issued was 6.4% . What was the price of this bond when it was issued?
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Finance For Growing Enterprises
Authors: Edward W. Davis, Roger Buckland
1st Edition
1138679941, 978-1138679948
