Listen Calculate the current price of a $1,000 par value bond that has a coupon rate of 7 percent, pays coupon interest annually, has 21 years remaining to maturity, and has a current yield to maturity (discount rate) of 14 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).

Listen Calculate the current price of a $1,000 par value bond that has a coupon rate of 7 percent, pays coupon interest annually, has 21 years remaining to maturity, and has a current yield to maturity (discount rate) of 14 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).

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 10P

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