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April 21, 2014

Homework Help: Finance

Posted by granann on Monday, November 4, 2013 at 1:07am.

Grasshopper Inc issued 20 years, noncallable, 7.8% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest on these bonds is 5.5%. What is the current price of the bonds, given that they now have 19 years to maturity?

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