One year ago acme issued 15-year bonds at par the bonds, Financial Management

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One year ago acme issued 15-year bonds at par the bonds

One year ago, ACME issued 15-year bonds at par. The bonds have a coupon rate of 6.5 percent and pay interest annually. Today, the market rate of interest on these bonds is 7.2 percent. How does the price of these bonds today compare to the issue price?

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Financial Management: One year ago acme issued 15-year bonds at par the bonds

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