Question
Westco Company issued 14-year bonds one year ago at a coupon rate of 6.4 percent. The bonds make semiannual payments and have a par value
Westco Company issued 14-year bonds one year ago at a coupon rate of 6.4 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 5.3 percent, what is the current price of the bond in dollars?
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Financial statements
Authors: Stephen Barrad
5th Edition
978-007802531, 9780324186383, 032418638X
