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QUESTION
Homework #4B (Value of the Bond annually)
Homework #4B (Value of the Bond annually)
Finance
Question 1 (1 point)
What is the value of a bond that has a par value of $1,000, a coupon rate of 7.35 percent (paid annually), and that matures in 16 years? Assume a required rate of return on this bond is 10.58 percent.
Round the answer to two decimal places.
