Question
You are thinking about buying a bond that offers a coupon rate of 6% but with semi-annual coupon payments. The bond has exactly 7 years
You are thinking about buying a bond that offers a coupon rate of 6% but with semi-annual coupon payments. The bond has exactly 7 years remaining to maturity. The face value of the bond is $1,000. Your required return is 8.16% per year. How much should you be willing to pay for this bond?
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Financial Management For Decision Makers
Authors: Peter Atrill
9th Edition
1292311436, 978-1292311432
