Newnovetel cellular is issuing bonds pay no interest but, Ask an Expert

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Newnovetel cellular is issuing bonds pay no interest but can be converted into $9K at maturity in 17 years. To price them competitively, it was determined they should yield eight percent compounded annually. At what price should Newnovatel sell these bonds?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91419149

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