Current market price of the bond
Problem:
An 8% $1,000 bond matures in 13 years, pays interest semi-annually, and has a yield to maturity of 9.5%.
Required:
Question 1: What is the current market price of the bond? Explain in detail provide show all workings.
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What is the current market price of the bond? Explain in detail provide show all workings.
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