Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of 4.8%. If the current market interest rate is 6.4%, at what price should the bonds sell? a. $678.27
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- Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual coupon (payable June 30 and December 31) on January 1, 2018, when the market rate of interest was 10%. Were the bonds issued at a discount or premium? Assuming the bonds sold at 92.288, what was the sales price of the bonds?Waylan Sisters Inc. issued 3-year bonds with a par value of $100,000 and a 6% annual coupon when the market rate of interest was 5%. If the bonds sold at 102.438, how much cash did Williams Sisters Inc. receive from issuing the bonds?Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of 5.7%. If the current market interest rate is 7.0%, at what price should the bonds sell? a. $1,040.28 b. $802.25 c. $1,013.84 d. $775.81 e. $881.60
- Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of 5.7%. If the current market interest rate is 7.0%, at what price should the bonds sell? Select one: a. $881.60 b. $1,013.84 c. $775.81 d. $802.25 e. $1,040.28Tweet Ltd recently issued non-callable bonds that mature in 10 years. They have a par value of $1,000 and an annual coupon of 6%. If the current market interest rate is 8.0%, at what price should the bonds sell? Select one: a. $897.21 b. $855.26 c. $865.79 d. $831.14Gabriele Enterprises has bonds on the market making annual payments, with 15 years to maturity, a par value of $1,000, and selling for $920. At this price, the bonds yleld 6.9 percent. What must the coupon rate be on the bonds? Multiple Cholce 6.13% 6.90% 6.03% 12.05% 6.55%
- One year ago Lerner and Luckmann Co. issued 15-year, noncallable, 9.8% annual coupon bonds at their par value of $1,000. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 14 years to maturity? Select the correct answer. a. $1,405.41 b. $1,415.82 c. $1,408.88 d. $1,401.94 e. $1,412.35Gabriele Enterprises has bonds on the market making annual payments, with 10 years to maturity, a par value of $1,000, and selling for $900. At this price, the bonds yield 8.8 percent. What must the coupon rate be on the bonds? A. 8.80% B. 14.51% C. 8.06% D. 7.26% E. 7.36%A. Morin Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 6.7% on these bonds. What is the bond's price? a. $1,215.14 b. $1,155.86 c. $1,047.19 d. $770.58 e. $987.92 B. Which of the following statements is CORRECT? a. IPO prices are generally established by the market, and buyers of the new stock must pay the price that prevails at the close of trading on the day the stock is offered to the public. b. It is possible that the price set in an IPO is so low that investors will want to buy more shares than the company wants to sell. In that case, the company will have to issue more shares than it wants to sell. c. The term "IPO" stands for Introductory Price Offered, and it is the price at which shares of a new company are offered to the public. d. In a "Dutch auction," investors who want to buy shares in an IPO submit bids…
- Lanker Enterprises has bonds on the market making Monthly payments, with 16 years to maturity, a par value of $1,000, and a price of $1154.49. At his price, the bonds yield 12 percent. What must the coupon rate be on the bonds? Select one: a.15.513% b.14.176% c.14.586% d.15.833%CGJ Bicycles, Incorporated, is currently selling bonds with an annual coupon of 13 percent. The yield to maturity for these bonds is 6.68 percent and they will mature in 29 years. What should be the current market price of each bond if they each have a face value of $1,000? O$1,494.42 $1,801.05 O $1,805.38 $1.647.73 O $527.89Morin Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 6.1% on these bonds. What is the bond's price? O a. $1,024.74 O b. $1,116.97 O c. $1,147.71 O d. $1,096.47 O e. $1,280.93