Concepts of future value and present value
Describe, compare, and contrast the concepts of future value and present value and explain the role of the discount rate in calculating present value?
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Bond N also has a face value of $13,000 and maturity of 21 years; it makes no coupon payments over the life of the bond. If the required return on both these bonds is 8% compounded semi-annually, what is the current price of M and N?
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