Thanks in advance and please show work! What would be the initial offering...
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Thanks in advance and please show work!
What would be the initial offering price for the following bonds (assume $1,000 par value and semiannual compounding)? Do not round intermediate calculations. Round your answers to the nearest cent. a. A 15-year zero-coupon bond with a yield to maturity (YTM) of 14%. $ b. A 21-year zero-coupon bond with a YTM of 12%. $
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