Mr. Prudent has purchased a discount bond, that matures in 7 years with a payout of exactly $14,440. Assume that Mr. Pr

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answerhappygod
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Mr. Prudent has purchased a discount bond, that matures in 7 years with a payout of exactly $14,440. Assume that Mr. Pr

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Mr. Prudent has purchased a discount bond, that matures in 7 years with a payout of exactly $14,440. Assume that Mr. Prudent holds this bond for 3 years and then sells it in a secondary market. If the interest rate is 9.3%, then what price does he sell it for?
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