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Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7.5% (annual payments). The yield to maturity on this bond when it was issued was 6.5%. What was the price of this bond when it was issued? 10 When it was issued, the price of the bond was $ (Round to the nearest cent.) on note
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
12th edition
1285850033, 978-1305480698, 1305480694, 978-0357688236, 978-1285850030
