Calculate the value of a bond that matures in 15 years and has a $5,000 par value.
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Question:
Calculate the value of a bond that matures in 15 years and has a $5,000 par value. The annual coupon interest rate is 17 percent and the market's required yield to maturity on a comparable-risk bond is 16 percent.
. What is the value of the bond?
Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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