Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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TCF Capital recently issued bonds that matures in 15 years. They have a par value of $1,000 and an annual coupon of 5.2%. If the current market interest rate is 4.8%, at what price should the bonds sell?
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