What is the bonds current market price
Problem
Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 10% and the yield to maturity is 12%. What is the bond's current market price?
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Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid annually, they have a $1,000 par value. What is the bond's current market price?
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