Promises, Incorporated has issued a 10-year, semiannual, level-coupon bond that has a coupon rate of 18%.The bond is priced to offer an effective annual rate (i.e., true yield) of 14% and sells for $1,212 per $1,000 of principal value.How much interest will this bond pay every six months (per $1,000 of principal value)?

Answer rating: 100% (QA)

To calculate the interest paid every six months per 1000 of principal value you can follo... View the full answer