Solved: One year ago lerner and luckmann co issued 15-year, Finance Basics

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One year ago lerner and luckmann co issued 15-year

One year ago Lerner and Luckmann Co. issued 15-year, noncallable, 7.5% annual coupon bonds at their par value of $1000. Today, the market interest rate on these bonds is 5/5%. What is the current price of the bonds, given that they now have 14 years to maturity?

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Finance Basics: One year ago lerner and luckmann co issued 15-year

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Now Priced at $10 (50% Discount)

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Finance Basics: One year ago lerner and luckmann co issued 15-year

Reference No:- TGS02199009

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