Question
The yield to maturity of a $1,000 bond with a 6.5% coupon rate, semiannual coupons, and two years to maturity is 8.6% APR, compounded
The yield to maturity of a $1,000 bond with a 6.5% coupon rate, semiannual coupons, and two years to maturity is 8.6% APR, compounded semiannually. What is its price? The price of the bond is $(Round to the nearest cent.)
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
17th Edition
9781260247787
