Question
You are shopping for a Bond to add to your well diversified investment portfolio. You come across an annual bond paying 9.5% for 16 years
You are shopping for a Bond to add to your well diversified investment portfolio. You come across an annual bond paying 9.5% for 16 years with a par value of $1,000. If competitive bond yields in the market are 7.7%, then what is the Fair Market/Present Value of this one?
Answer to the penny, and enter without the $ sign.
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
