Question
Union Local School District has bonds outstanding with a coupon rate of 3.8 percent paid semiannually and 21 years to maturity. The yield to maturity
| Union Local School District has bonds outstanding with a coupon rate of 3.8 percent paid semiannually and 21 years to maturity. The yield to maturity on these bonds is 4.3 percent and the bonds have a par value of $5,000. |
| What is the dollar price of the bond?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Bond price | $ |
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Financial Management Theory And Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
3rd Canadian Edition
017658305X, 978-0176583057
