Problem 7.11 – Dollar Price of a School District Bond

Fundamentals of Corporate Finance

Ross, Westerfield, and Jordan

13th Edition

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Union Local School District has a bond outstanding with a given coupon rate paid semiannually and a specific number of years to maturity. The yield to maturity on this bond is provided as a percentage, and the bond has a certain par value. Determine the dollar price of the bond.

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