Assume a par value of $1,000. Caspian Sea plans to issue a 24.00 year, semi-annual pay bond that has a coupon rate of 17.00%. If the yield to maturity for the bond is 17.0%, what will the price of the bond be? Submit Answer format: Currency: Round to: 2 decimal places.

Assume a par value of $1,000. Caspian Sea plans to issue a 24.00 year, semi-annual pay bond that has a coupon rate of 17.00%. If the yield to maturity for the bond is 17.0%, what will the price of the bond be? Submit Answer format: Currency: Round to: 2 decimal places.

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 14P: Current Yield with Semiannual Payments A bond that matures in 7 years sells for $1,020. The bond has...

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Assume a par value of $1,000. Caspian Sea plans to issue a 24.00 year, semi-annual pay bond that has a coupon rate
of 17.00%. If the yield to maturity for the bond is 17.0%, what will the price of the bond be?
Submit
Answer format: Currency: Round to: 2 decimal places.

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