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
Related questions
Question
Bonds:
issued 8% / 2 yr / Par $7,000 bond
Market value 6%
What is selling price?
Expert Solution
Step 1
Bond is debt-instrument that is used by organizations to raise debt funds from public-at-large. Bondholders are paid fixed coupon periodically. Bonds are also listed at exchanges providing liquidity to Bonds.
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