A bond with a face value of ​$6000 pays quarterly interest of 3.5 percent each period.Twenty-two interest payments remain before the bond matures. How much would you be willing to pay for this bond today if the next interest payment is due now and you want to earn 6 percent compounded quarterly on your​ money?

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
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A bond with a face value of ​$6000 pays quarterly interest of 3.5 percent each period.Twenty-two interest payments remain before the bond matures. How much would you be willing to pay for this bond today if the next interest payment is due now and you want to earn 6 percent compounded quarterly on your​ money?

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