(20 pts.) Use excel and show formula. The Blues Restaurants issued 11-year bonds a year ago...

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Answer 1

Answer #1

Current price of the bond:

=PV(6.6% ,(11-1)*2,-1000*8.3%/2,-1000) ? Function Arguments PV Rate 6.6% 0.066 Nper (11-1)*2 20 Pmt -1000*8.3%/2 -41.5 Fv -10

Current price is $732.18

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Answer 2

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