A company issues a 10 year bond on par with a coupon rate


A company issues a 10 year bond on par with a coupon rate of 6.5% paid semi annually. The YTM at the beginning of the third year of the bond is 8.4% ( 8 YEARS LEFT TILL MATURITY). What is the new price of the bond?

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Financial Management: A company issues a 10 year bond on par with a coupon rate
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