Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN: 9781337395083
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
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Bond valuation-Semiannual interest Find the value of a bond maturing in 4 years, with a $1,000 par
value and a coupon interest rate of 12% (6% paid semiannually) if the required return on similar-risk bonds
is 17% annual interest (8.5% paid semiannually).
The present value of the bond is $
(Round to the nearest cent.)
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Transcribed Image Text:Bond valuation-Semiannual interest Find the value of a bond maturing in 4 years, with a $1,000 par value and a coupon interest rate of 12% (6% paid semiannually) if the required return on similar-risk bonds is 17% annual interest (8.5% paid semiannually). The present value of the bond is $ (Round to the nearest cent.)
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