Barry's Steroids Company has $1,000 par value bonds outstanding at 13 percent interest. The bonds will mature
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Question:
Barry's Steroids Company has $1,000 par value bonds outstanding at 13 percent interest. The bonds will mature in 40 years.
If the percent yield to maturity is 11 percent, what percent of the total bond value does the repayment of principal represent? Assume interest payments are annual. approximate answer but calculate your final answer using the formula and financial calculator methods.
Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.
Related Book For
Corporate Finance
ISBN: 9781265533199
13th International Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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