The nick company has a series of 1000 par value bonds


Question: The Nick Company has a series of $1,000 par value bonds outstanding. Each bond pays interest semi-annually and carries an annual coupon rate of 10%. These bonds are due to mature in 10 years. If the required rate of return on the bonds (yield to maturity) is 10%, what is the current price of the bond?

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Finance Basics: The nick company has a series of 1000 par value bonds
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