Question
Union Local School District has bonds outstanding with a coupon rate of 4.7 percent paid semiannually and 22 years to maturity. The yield to maturity
Union Local School District has bonds outstanding with a coupon rate of 4.7 percent paid semiannually and 22 years to maturity. The yield to maturity on these bonds is 4.1 percent and the bonds have a par value of $10,000.
What is the dollar price of the bond?
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Financial Modeling
Authors: Simon Benninga
4th Edition
0262027283, 9780262027281
