Business, 22.04.2020 01:48 hellenjones30p0kvtl
A $1,000 bond with a coupon rate of 8% has quarterly coupons and is redeemable after an unspecified number of years at $957. The bond is bought to yield 12% convertible semiannually. If the present value of the redemption amount is $355.40, find the purchase price using the Makeham formula. Then check your answer using another price formula.
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A $1,000 bond with a coupon rate of 8% has quarterly coupons and is redeemable after an unspecified...
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