One year ago lerner and luckmann co issued 15-year, Ask an Expert

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One year ago Lerner and Luckmann Co. issued 15-year, non-callable, 7.5% annual coupon bonds at their par value of $1,000. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 14 years to maturity?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92645482

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