What is the value of a bond that has a par value of $1,000, a coupon rate of 9.18 percent (paid annually), and that matures in 18 years? Assume a required rate of return on this bond is 10.66 percent.
What is the value of a bond that has a par value of $1,000, a coupon
rate of 9.18 percent (paid annually), and that matures in 18 years? Assume a required rate of return on this bond is 10.66 percent.
Fresh Water, Inc. sold an issue of 15-year $1,000 par value bonds to the public. The bonds have a 9.63 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 11.52 percent. What is the current market price of the bonds?
excel calculations preferred
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