Millennium Bonds were sold in 2010 with a 10 percent, 25-year maturity, $1,000 par value, and a
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Millennium Bonds were sold in 2010 with a 10 percent, 25-year maturity, $1,000 par value, and a floating- rate covenant. If rates on similar risk bonds are currently (2016) yielding 7 percent, what is your estimate as to the bond's value?
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Bonds with a floating rate covenant will have ...View the full answer
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Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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