Westco Company issued 25-year bonds 5 years ago at a coupon rate of 6.29 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 6.59%, what is the current price of the bond in dollars? Do not include a $ in your answer.
Westco Company issued 25-year bonds 5 years ago at a coupon rate of 6.29 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 6.59%, what is the current price of the bond in dollars? Do not include a $ in your answer.
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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