General Mills has a $1,000 par value, 12-year bond outstanding with an annual coupon rate of 3.60

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General Mills has a $1,000 par value, 12-year bond outstanding with an annual coupon rate of 3.60 percent per year, paid semiannually. Market interest rates on similar bonds are 12.70 percent. Calculate the bond's price today.

Related Book For answer-question

Financial Markets And Institutions

ISBN: 978-0132136839

7th Edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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Posted Date: Jan 27, 2020 05:39 AM

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General Mills has a $1,000 par value, 12-year bond outstanding with an annual coupon rate of 3.60

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Expert Answer:

COUPON IS 36 ANNUALLY 1R 2 10036 1R1036 12 R178 SEMI ANNUAL COUPON I... View the full answer

Financial Markets And Institutions

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