How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask SteveS Your Own Question

SteveS
SteveS, MBA
Category: Homework
Satisfied Customers: 453
Experience:  MBA from Top 5 US Business School, Tutoring Experience for Over Two Years
18851589
Type Your Homework Question Here...
SteveS is online now
A new question is answered every 9 seconds

Two years ago you bought a corporate bond with a face value

Resolved Question:

Two years ago you bought a corporate bond with a face value of $1,000 and semi annual interest payments. It will mature nine years from today. The coupon rate on the bond is 7%. You now have to sell the bond to pay for your daughter’s college tuition that is $1,200 this semester. Your broker informs you the current market required return for this bond is 8%. What price can you receive if you sell the bond today?
Submitted: 7 years ago.
Category: Homework
Expert:  SteveS replied 7 years ago.
THIS ANSWER IS LOCKED!

You need to spend $3 to view this post. Add Funds to your account and buy credits.
SteveS and 3 other Homework Specialists are ready to help you
Expert:  SteveS replied 7 years ago.
So do you have any questions? If not, please click the Accept button. Thanks.