Question
You are considering buying a bond with a face value of $5,000, a bond rate of 3%, and a maturation period of 8 years. If
You are considering buying a bond with a face value of $5,000, a bond rate of 3%, and a maturation period of 8 years. If you want a yield of 8%, how much should you be willing to pay for the bond? Round to the nearest dollar and please show work
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk
11th Edition
0324422865, 978-0324422863
