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What is an estimate of the price of AAA-rated bond that has nine years till maturity, a face value of 1000 dollars, and an APR
- What is an estimate of the price of AAA-rated bond that has nine years till maturity, a face value of 1000 dollars, and an APR coupon rate of 11 percent? Assume that the coupon payments are made annually (at the end of each year), and that the current market interest rate for AAA-rated, 9-year maturity bonds is 10 percent APR compounded annually. Show your work.
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Cases In Financial Reporting
Authors: Ellen Engel, D. Eric Hirst, Mary Lea McAnally
7th Edition
1934319791, 9781934319796
