Question
You buy a 7% coupon bond maturing in 5 years. The bond has a $70 annual coupon, $1,000 face value, and the promised annual coupon
You buy a 7% coupon bond maturing in 5 years. The bond has a $70 annual coupon, $1,000 face value, and the promised annual coupon is $70. The market's required return on similar bonds is 7%. I know that the present value of the face value is $712.99, but what values would I put in a Texas Instruments BA II plus calculator to yield this?
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
