A bond with a 12 percent quarterly coupon rate has a yield

A bond with a 12 percent quarterly coupon rate has a yield to maturity of 16 percent. The bond has a par value of $1,000 and matures in 20 years. Based on this information, what is a fair price of this bond?

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Financial Management: A bond with a 12 percent quarterly coupon rate has a yield
Reference No:- TGS01130969

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