Question
Union Local School District has bonds outstanding with a coupon rate of 3.2 percent paid semiannually and 23 years to maturity. The yield to maturity
Union Local School District has bonds outstanding with a coupon rate of 3.2 percent paid semiannually and 23 years to maturity. The yield to maturity on these bonds is 2.6 percent and the bonds have a par value of $5,000.
What is the price of the bonds?
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Small Business Management Launching and Growing New Ventures
Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy
6th Canadian edition
176532218, 978-0176532215
