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What is the present value of a 30 year 100 dollar bond which provides fixed semiannual interest payments when the effective rate is 12 percent and the bonds stated rate is 7 percent?
Wiki User
∙ 14y ago
Coupon payment = (100)(.035) = 3.5
PV coupon payments payments = $56.56
PV of bond = 3.34
Present value of bond = 56.56 + 3.34 = $59.90
Wiki User
∙ 14y ago
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