Problem 6.06 – Current Price of Bond in Dollars
Essentials of Corporate Finance
Ross, Westerfield, and Jordan
10th Edition and 11th Edition
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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