A Sheraton Hotel bond has a par value of $1,000, and has a coupon rate of 7.25%. The coupon in paid quarterly. The investor's rate of return is 9%. The bond will mature in 12 years, and the investor is planning to keep this bond until maturity. Based on this information, what is  the value of this bond?

Answer rating: 100% (QA)

To calculate the value of the bond we can use the present value of a bond formula The present value ... View the full answer