A friend of yours just invested in an outstanding bond with a 6% annual coupon and a
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A friend of yours just invested in an outstanding bond with a 6% annual coupon and a remaining maturity of 15 years. The bond has a par value of $1,000 and the market interest rate is currently 8%. How much did your friend pay for the bond?
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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