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July 30, 2015

Homework Help: Finance

Posted by Anonymous on Sunday, October 24, 2010 at 12:44pm.

Wachowicz Corporation issued 15-year, noncallable, 7.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 14 years to maturity?

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