A bond with 8 years to maturity and a coupon rate of 11% has a...
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Finance
A bond with 8 years to maturity and a coupon rate of 11% has a par, or face, value of $20,000. Interest is paid annually. If you require a return of 12% on this bond, what is the value of this bond to you? The value of the bond is $ (Round to the nearest cent.)
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