Using the data in Table 116 on page 300, indicate the closing dollar value of the National

Question:

Using the data in Table 11–6 on page 300, indicate the closing dollar value of the National City Corp. bonds that pay 4.9 percent interest and mature January 15, 2015. State your answer in terms of dollars based on a $1,000 bond. Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...