Question
The Morrissey Company's bonds mature in 10 years, have a par value of $1,000, and make an annual coupon payment of $130. The market interest
The Morrissey Company's bonds mature in 10 years, have a par value of $1,000, and make an annual coupon payment of $130. The market interest rate for the bonds is 6%. What is the bond's price?
a. 1,515.21
b. 1,666.73
c. 1,000.00
d. 1,330.38
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The New Public Finance
Authors: Inge Kaul, Pedro Condeicao
1st Edition
0195179978, 978-0195179972
