You have just purchased a 17-year, $1,000 par value bond. The annual coupon rate on this bond is 10.9 percent paid each 6 months.

You have just purchased a 17-year, $1,000 par value bond. The annual coupon rate on this bond is 10.9 percent paid each 6 months. If you expected to earn the market rate of 14.9 as return on this bond, how much did you pay for it?

Expert Solution

jeff jeffy answered 2 years ago

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