Fresh Water, Inc. sold an issue of 19-year $1,000 par value bonds to the public. The bonds have a 7.39 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 12.66 percent. What is the current market price of the bonds?

Answer rating: 100% (QA)

To calculate the current market price of the bonds we can use the present value of a bond formula Th... View the full answer