General mills has a 1000 par value 14-year to maturity bond, Ask an Expert

Finance

General Mills has a $1,000 par value, 14-year to maturity bond outstanding with an annual coupon rate of 9.47 percent per year, paid semiannually. Market interest rates on similar bonds are 8.33 percent. Calculate the bond’s price today.

Round the answer to two decimal places.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92333627

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