Solved: The bonds have a 1117 percent coupon rate and pay interest, Finance Basics

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The bonds have a 1117 percent coupon rate and pay interest

Fresh Water Inc sold an issue of 16 year $1000 par value bonds to the public. The bonds have a 11.17 percent coupon rate and pay interest annually. The current market rate of interest on the fresh water Inc bonds is 8.42 percent. What is the current market price of the bonds?

Round the answer to two decimal places.

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Finance Basics: The bonds have a 1117 percent coupon rate and pay interest

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Finance Basics: The bonds have a 1117 percent coupon rate and pay interest

Reference No:- TGS02216508

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