Asked by Anonymous

One year ago, Auto Land issued 10-year bonds at par. The bonds have a coupon rate of 6.5 percent and pay interest annually. Today, the market rate of interest on these bonds is 6.25 percent. How does today's price of this bond compare to the issue price
Answered by Hans
N=9
Answered by Hans
my bad i hit wrong key
N=9
I/Y=6.25%
Fv=1000
PMT=.065*1000
CPT=PV Ignore the sign
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