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17-05-2024
Business

Answered

The morrissey company's bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $70. the market interest rate for the bonds is 8.5%. What is the bond's price?

a. $946.30
b. $969.96
c. $994.21
d. $923.22

Answer :

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