EAR = (1 + 0.099/2)2 - 1
EAR = 10.145%
Calculating Bond Price,
Using TVM Calculation,
PV = [FV = 1,000, PMT = 99, N = 12, I = 0.10145]
PV = $983.42
Bond Price = $983.42
Colton Corporation's semiannual bonds have a 12-year maturity, an 9.90% nominal coupon paid semiannually. and sell...
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