One year into the bonds life the market rates are cut down
9% annual coupon. 15 year bond. Par is $1000. One year into the bond’s life (14 years to maturity), the market rates are cut down by 70 basis points. What is the updated value of the bond? Please show work and write out answers.
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9 annual coupon 15 year bond par is 1000 one year into the bondrsquos life 14 years to maturity the market rates are
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