Problemgeneral mills have a 1000 par value 12-year bond, Ask an Expert

Finance

Problem:

General mills have a $1000 par value, 12-year bond outstanding with an annual coupon rate of 3.60% per year, paid semi annually. Market interest rates on similar bonds are 12.70%.

Required:

Question: Calculate the bond's price today. Please provide all workings.

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Category:- Basic Finance
Reference No.:- M91147252

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