Question
You have just purchased a regular bond. The has a face value of $400,000. The bond has a coupon rate of 5.1%. Coupons are paid
You have just purchased a regular bond. The has a face value of $400,000. The bond has a coupon rate of 5.1%. Coupons are paid annually. The yield to maturity on the bond is 4.8%. The bond has 22 years to maturity. How much did you pay for the bond today?
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th Edition
1260772381, 978-1260772388
