Question
The Cardinal Corporation has bonds outstanding rate with 20 years to maturity and a par value of $1000. The bonds pay semi-annual coupon payments at
The Cardinal Corporation has bonds outstanding rate with 20 years to maturity and a par value of $1000. The bonds paysemi-annualcoupon payments at a coupon of 8%. The yield to maturity (YTM) on these bonds is 9%. What price should the bonds sell for?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
