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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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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Question Posted: Sep 17, 2018 12:56 PM

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Millennium Bonds were sold in 2010 with a 10 percent, 25-year maturity, $1,000 par value, and a

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Foundations of Financial Management

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