Question
You are considering the purchase of a $1 comma 000 par value bond with a coupon rate of 5.1% (with interest paid semiannually) that matures
You are considering the purchase of a $1 comma 000 par value bond with a coupon rate of 5.1% (with interest paid semiannually) that matures in 12 years. If the bond is priced to yield 9%, what is the bond's current price?
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Cases In Financial Reporting
Authors: Ellen Engel, D. Eric Hirst, Mary Lea McAnally
7th Edition
1934319791, 9781934319796
