Calculate the value of a bond that matures in 13 years and has a $ 1,000...

Calculate the value of a bond that matures in 13 years and has a $ 1,000 par value. The annual coupon interest rate is 15 percent and the market's required yield to maturity on a comparable-risk bond is 12 percent.

The value of the bond is?

(round to the nearest cent)

Expert Solution

jeff jeffy answered 2 years ago

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