Fresh Water, Inc. Executed the sale of a series of 30-year bonds with a par value of
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Question:
Fresh Water, Inc. Executed the sale of a series of 30-year bonds with a par value of $1,000 to the general public. The bonds offer an annual coupon rate of 10.63 percent, with interest payments made on a yearly basis. The prevailing market interest rate for Fresh Water, Inc. as of the present. bonds is 12.92 percent. May I inquire about the prevailing market price of the bonds?
Please express the value to two decimal places.
Related Book For
Financial Management For Public Health And Not-for-Profit Organizations
ISBN: 9781071835333
7th Edition
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
Posted Date: