Question
Trust Bank issues a monthly par $1,000 bond with 9 years until maturity. The coupon rate is 8.40%, and the YTM is 6.80%. What is
Trust Bank issues a monthly par $1,000 bond with 9 years until maturity. The coupon rate is 8.40%, and the YTM is 6.80%. What is the current price of the bond? (Round your answer to 2 decimal places).
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Fundamentals Of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
16th Edition
0357517571, 978-0357517574
