Madison Inc. just issued bonds with a par value of $1,000, an annual coupon rate of 3.5%, coupons paid semiannually, and a maturity of 10 years? The bonds have a yield to maturity of 5.1%. What is the price of these bonds? Enter your answer as a number with 2 decimal places of precision. Do not enter dollar signs or commas. Do not enter your answer as a negative number.
Madison Inc. just issued bonds with a par value of $1,000, an annual coupon rate of 3.5%, coupons paid semiannually, and a maturity of 10 years? The bonds have a yield to maturity of 5.1%. What is the price of these bonds? Enter your answer as a number with 2 decimal places of precision. Do not enter dollar signs or commas. Do not enter your answer as a negative number.
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 2EB: Waylan Sisters Inc. issued 3-year bonds with a par value of $100,000 and a 6% annual coupon when the...
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