Question
You have the opportunity to purchase a 19-year, $1,000 par value bond that has an annual coupon rate of 12%. If you require a YTM
You have the opportunity to purchase a 19-year, $1,000 par value bond that has an annual coupon rate of 12%. If you require a YTM of 7.8%, how much is the bond worth to you?
1---The price of the bond is $ _____. (Round to the nearest cent.)
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakin
7th Global Edition
0273754440, 9780273754442
