Solved: Market interest rates on similar bonds are 1064 percent, Finance Basics

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Market interest rates on similar bonds are 1064 percent

General Mills has a $1,000 par value, 21-year to maturity bond outstanding with an annual coupon rate of 8.28 percent per year, paid semiannually. Market interest rates on similar bonds are 10.64 percent. Calculate the bond's price today. Please assist.

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Finance Basics: Market interest rates on similar bonds are 1064 percent

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Finance Basics: Market interest rates on similar bonds are 1064 percent

Reference No:- TGS02819720

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