Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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A bond is issued at a price of $500 and pays a interest of $40 per year for the next 7 years. If the interest rate in the market is 9% and the bond is redeemed for a price of $550 then what is the price of the bond today
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