A bond with 5 years to maturity and a coupon rate of ​6% has a​ par, or​ face, value of $20,000​. Interest is paid annua

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answerhappygod
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A bond with 5 years to maturity and a coupon rate of ​6% has a​ par, or​ face, value of $20,000​. Interest is paid annua

Post by answerhappygod »

A bond with 5 years to maturity and a coupon rate of ​6% has a​
par, or​ face, value of $20,000​. Interest is paid annually. If you
require a return of 8% on this​ bond, what is the price of the​
bond?
The value of the bond is: ​ ​(Round to the nearest​
cent.)
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