Friday
October 24, 2014

Homework Help: finance

Posted by granann on Monday, November 4, 2013 at 12:50am.

Monrrow Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 7.7% on these bonds. What is the bond's price?

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