Question
Tax exempt bond issued at an annual 8 percent coupon rate, matures in 20 years, par value $1,000. If market rates are 8%, what is
Tax exempt bond issued at an annual 8 percent coupon rate, matures in 20 years, par value $1,000.
If market rates are 8%, what is the market price of the bond?
If market rates fall to 5%, what is the market price of the bond?
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The Handbook Of Financing Growth
Authors: Kenneth H. Marks, Larry E. Robbins, Gonzalo Fernandez, John P. Funkhouser, D. L. Williams
2nd Edition
0470390158, 978-0470390153
