At what price should the bonds sell
Question # 00766678
Posted By:
Updated on: 06/24/2020 07:12 AM Due on: 06/29/2020
Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of 5.7%. If the current market interest rate is 6.8%, at what price should the bonds sell?
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