Computing bond price of morrissey company


The Morrissey Company's bonds mature in seven years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?

  • $923.22
  • $946.30
  • $969.96
  • $994.21
  • $1,019.06

Request for Solution File

Ask an Expert for Answer!!
Finance Basics: Computing bond price of morrissey company
Reference No:- TGS049409

Expected delivery within 24 Hours