
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Company Z is considering the purchase of a 20 year non-callable bond with a coupon rate of 6.70%. The bond has a face value of $1,000 and it makes SEMIANNUAL coupon payments. If the required yield to maturity on this investment is 8.20%, what is the maximum price that should be paid for this bond today?
Group of answer choices
$725.68
$530.82
$811.05
$887.89
$853.74
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