The annual payment of a fixed-payment loan of $2,000 is $246.58. The annual interest rate of the loan is % and the term of this loan is years. The present value of $300 to be paid years from now is $202.67. What is the price of a bond with an annual coupon rate of 6% and a face value of $1,500

Answer rating: 100% (QA)

To find the annual interest rate and term of the loan we can use the formula for the present value o... View the full answer