Question
What is the value of a bond that has a par value of $1,000, a coupon rate of 7.07 percent (paid annually), and that matures
What is the value of a bond that has a par value of $1,000, a coupon rate of 7.07 percent (paid annually), and that matures in 29 years? Assume a required rate of return on this bond is 11.95 percent.
Round the answer to two decimal places.
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
7th Edition
013213683X, 978-0132136839
