1 InJanuary 2021 you purchased a $20,000 bond from Comcast with a 5.5% coupon rate and a 10-year maturity. In July of 2021, you decided you need to sell this bond in the secondary market, and you learned that the rate offered for $20,000 bonds with a 10-year maturity was now 5.2%. How much were you be able to sell your bond for in July 2021?
1 InJanuary 2021 you purchased a $20,000 bond from Comcast with a 5.5% coupon rate and a 10-year maturity. In July of 2021, you decided you need to sell this bond in the secondary market, and you learned that the rate offered for $20,000 bonds with a 10-year maturity was now 5.2%. How much were you be able to sell your bond for in July 2021?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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InJanuary 2021 you purchased a $20,000 bond from Comcast with a 5.5% coupon rate and a 10-year maturity. In July of 2021, you decided you need to sell this bond in the secondary market, and you learned that the rate offered for $20,000 bonds with a 10-year maturity was now 5.2%. How much were you be able to sell your bond for in July 2021?
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