Business, 29.03.2021 16:40 cganderson04

You'd like to buy a 20-year, noncallable bond with an annual coupon rate of 8.4% paid semi-annually. The bond has a par value of $1,000. If you require an 7.75% nominal yield to maturity on this investment, what should you be willing to pay for the bond

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You'd like to buy a 20-year, noncallable bond with an annual coupon rate of 8.4% paid semi-annually....