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The bonds have a 805 percent coupon rate and pay interest

Question

Frest Water, Inc sold an issue of 4-year $1,000 par value bonds to the public. The bonds have a 8.05 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 8.03 percent. What is the current market price of the bonds?

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Finance Basics: The bonds have a 805 percent coupon rate and pay interest

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Finance Basics: The bonds have a 805 percent coupon rate and pay interest

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