Question
Ten-year zero coupon bonds issued by the U.S. Treasury have a face value of $1,000 and interest is compounded semiannually. If similar bonds in the
Ten-year zero coupon bonds issued by the U.S. Treasury have a face value of $1,000 and interest is compounded semiannually. If similar bonds in the market yield 8.94 percent, what is the value of these bonds? (Round answer to 2 decimal places, e.g. 15.25.)
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Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
