How much to pay for bond for effective annual interest rate
You are considering a 10-year, $1,000 par value bond. Its coupon rate is 9%, and interest is paid semiannually. If you require an "effective" annual interest rate(not a nominal rate) of 8.16%, how much should you be willing to pay for a bond?
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A state issued $70,000,000 of 4%, 20 year term bonds at 105 to provide financing for construction of a new state legislative office building. The premium which is to be used for debt service was transferred to the appropriate fund.
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Biltmore Financial is a banking services company that offers many different types of checking accounts. The bank has recently adopted an activity-based costing system to assign costs to their various types of checking accounts.
If you require an "effective" annual interest rate(not a nominal rate) of 8.16%, how much should you be willing to pay for a bond?
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