Jones corprsquos outstanding bonds which have a face value


Jones Corp’s outstanding bonds, which have a face value of $1,000, have 10 years remaining to maturity. The bonds’ coupon rate is 6%, and interest is paid semiannually. If investors require a rate of return equal to 5% to invest in similar-risk bonds, what should be the market price of Jones’ bonds?

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Financial Management: Jones corprsquos outstanding bonds which have a face value
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