The par value of 10% debenture is $1,000 with maturity is 3 years. What would be the price if interest rate is (a) 12%,

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
Section: Chapter Questions
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Price of debenture

The par value of 10% debenture is
$1,000 with maturity is 3 years.
What would be the price
if interest rate is
(a) 12%,
Transcribed Image Text:The par value of 10% debenture is $1,000 with maturity is 3 years. What would be the price if interest rate is (a) 12%,
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