Question
You purchased a 20-year bond 12 years ago at ayield to maturity of 8.36%. The bond has aface value of $1,000 and acoupon rate of
You purchased a 20-year bond 12 years ago at ayield to maturity of 8.36%. The bond has aface value of $1,000 and acoupon rate of 8.00%. If the investors' required rate of return on this bond has stayed the same for 15 years, what is the price of the bond today?
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Entrepreneurial Finance
Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
