Heather wants to buy a bond. The bond she is looking at has a par value of
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Heather wants to buy a bond. The bond she is looking at has a par value of $1,000 with an annual coupon rate of 11%. There are 10 years to maturity. The current market yield to maturity for these bonds is 14% annually. If the coupon is paid twice a year (semi-annually) what should she pay for this Bond?
Related Book For
Financial Markets And Institutions
ISBN: 978-0132136839
7th Edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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