Question
You have a $1000 bond at 4.2% that matures in five years and pays interest annually. you want to sell it, but the current interest
You have a $1000 bond at 4.2% that matures in five years and pays interest annually. you want to sell it, but the current interest rate on a similar investment that matures in five years is now paying 8.2% interest. What is the current value of your bond?
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
13th edition
1285198840, 978-1285198842
