Madsen Motors's bonds have 11 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 9%; and the yield to maturity is 5%. What is the bond's current market price? Round your answer to the nearest cent.

Answer rating: 100% (QA)

Face Value 1000 Time to maturity 10 years YTM 5 Annual coupon r... View the full answer