Question
You learned that XYZ, Inc. has a bond with $1,000 face value. The bond carries a 9% coupon, paid semiannually, and matures in 12 years.
You learned that XYZ, Inc. has a bond with $1,000 face value. The bond carries a 9% coupon, paid semiannually, and matures in 12 years.
What is the fair market value of the bond if the yield to maturity is only 7%?
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Managing The Audit Function A Corporate Audit Department Procedures Guide
Authors: Michael P. Cangemi
2nd Edition
0471012556, 978-0471012559
