Essex biochemical co has a 1000 par value bond outstanding, Ask an Expert

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Essex Biochemical Co. has a $1,000 par value bond outstanding that pays 20 percent annual interest. The current yield to maturity on such bonds in the market is 9 percent. Use Appendix B and Appendix D. Compute the price of the bonds for these maturity dates (Round "PV Factor" to 3 decimal places, intermediate and final answers to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response): Price of the bond (a) 30 years $ ? (b) 18 years $ ? (c) 4 years $ ?

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