Problem 6.06 – Current Price of Bond in Dollars

Essentials of Corporate Finance

Ross, Westerfield, and Jordan

10th Edition and 11th Edition

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What is the current price of a bond issued by Westco Co. with a coupon rate and a par value, that makes periodic payments, and has a YTM that has changed since its issue a year ago? Determine the current bond price given the years, the coupon rate, the par value, and YTM. What is the price of the bond in dollars?

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