The City of San Francisco issued a bond that currently trades for $1023. There are 14 years
Fantastic news! We've Found the answer you've been seeking!
Question:
The City of San Francisco issued a bond that currently trades for $1023. There are 14 years left until the bond matures. It carries a coupon rate of 5%; Interest is paid annually. If the city wanted to issue a new 14 year bond today priced at par. What coupon rate would it need to offer investors? (Round two decimal places)
Related Book For
International Finance Putting Theory Into Practice
ISBN: 978-0691136677
1st edition
Authors: Piet Sercu
Posted Date: