You decide to buy a bond that matures in 6 years and has a par value...

You decide to buy a bond that matures in 6 years and has a par value of $10,000. The coupon rate is 9% per year but interest payments are made monthly. The desired yield to maturity is 8% compounded monthly. What is the current price of the bond?

Expert Solution

jeff jeffy answered 2 years ago

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