Bank of America has a 5 % , annual coupon bond that will mature in 1 8

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Question:

Bank of America has a

5 %,

annual coupon bond that will mature in

18

years. The interest rate for bonds like this is currently

5.45 % .

Assuming the par value is $

1, 000,

what is the current price of this bond?

Related Book For answer-question

Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

See More Books

Posted Date: Mar 20, 2024 02:09 AM

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Bank of America has a 5 % , annual coupon bond that will mature in 1 8

Question:

Expert Answer:

Absolutely we can calculate the current price of the Bank of America bond Heres how Given Information Par value face value 1000 Coupon rate 5 annual M... View the full answer

Engineering Economic Analysis

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