Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds

/in /by

Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to
the public. The bonds had a 10.57 percent coupon rate and paid interest annually. It is now 6 years later. The current market rate of interest on the Bright Sun bonds is 8.87 percent. What is the current market price (intrinsic value) of the bonds?
Round the answer to two decimal places.

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"