Market interest rates on similar bonds are 1203 percent


General Mills has a $1,000 par value, 14-year to maturity bond outstanding with an annual coupon rate of 8.64 percent per year, paid semiannually. Market interest rates on similar bonds are 12.03 percent. Calculate the bond's price today.

Solution Preview :

Prepared by a verified Expert
Business Economics: Market interest rates on similar bonds are 1203 percent
Reference No:- TGS02646467

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)