Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 1P
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Question
15 year bond have an annual coupon interest of 9% make interest payment on a semi-annual basis and have $1,000 par value if the bonds are trading with a market required yield to maturity of 17% are these premium for discount bonds?
What is the price of the bonds?
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