Question
What is the value of a bond that matures in 15 years, that pays a coupon of 7.5% per year, that makes semi-annual coupon payments,
What is the value of a bond that matures in 15 years, that pays a coupon of 7.5% per year, that makes semi-annual coupon payments, and that has a face value of $1,000? Assume a discount rate of 6.89% per year. Enter your answer in dollars with two decimals.
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
