General mills has a 1000 par value 29-year bond outstanding


General mills has a $1000 par value, 29-year bond outstanding with an annual coupon rate of 7.88% per year, paid semiannually. Market interest rates on similar bonds are 11.94%. Calculate the bond's price today.

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Finance Basics: General mills has a 1000 par value 29-year bond outstanding
Reference No:- TGS02216197

Now Priced at $10 (50% Discount)

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