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1. Madsen Motors's bonds have 20 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 6.5%; and the yield to maturity is 7%. What is the bond's current market price? Round your answer to the nearest cent. $

2. A bond pays interest of 45 every six months, matures in 5 years, and priced to yield 6.5%. What is the current yield of this bond.

3. Nesmith Corporation's outstanding bonds have a $1,000 par value, a 8% semiannual coupon, 11 years to maturity, and an 7.5% YTM. What is the bond's price? Round your answer to the nearest cent. $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92699718

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