Question
Westco Company issued 13-year bonds one year ago at a coupon rate of 6.5 percent. The bonds make semiannual payments and have a par value
Westco Company issued 13-year bonds one year ago at a coupon rate of 6.5 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 5.4 percent, what is the current price of the bond in dollars?
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International Financial Management
Authors: Geert Bekaert, Robert J. Hodrick
2nd edition
013299755X, 132162768, 9780132997553, 978-0132162760
