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The yield to maturity for 25 -year bonds is as follows for four different bond rating categories The bonds of Falter Corporation were rated as
The yield to maturity for 25 -year bonds is as follows for four different bond rating categories The bonds of Falter Corporation were rated as AAA and issued at par a few weeks ago. The bonds have just been downgraded to AA Determine the new price of the bonds, assuming a 25.year maturity and semiannual interest payments. Assume the par value of the bonds is $1,000. (Use o Finoncial colculator to arrive at the onswers. Round the final onswer to 2 decimal places.) Price of the bonds
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