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SteveS, MBA
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Two years ago you bought a corporate bond with a face value

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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.

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Expert:  SteveS replied 7 years ago.
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