A couple purchased a bond for $950.00 three years ago. The bond pays 6.625% APR with semi-annual
Fantastic news! We've Found the answer you've been seeking!
Question:
A couple purchased a bond for $950.00 three years ago. The bond pays 6.625% APR with semi-annual coupons with a face value of $1,000. Currently, the bond has exactly 10 years until maturity, and investors seek a return of 11.00% APR on bonds of similar risk.
What is the current price of the bond?
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Posted Date: