Happy cruise lines issued bonds 5 years ago with par 1000
Happy Cruise lines issued bonds 5 years ago with par $1000 and a 20 year life when issued. At that time the coupon rate was 12%. Now 5 years later the current market rate for these bonds is only 10%. What should you pay for the bonds now?
Now Priced at $10 (50% Discount)
Recommended (92%)
Rated (4.4/5)
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