Calculating the current price of the bond

Reference no: EM132017901

Question: The Nick Company has a series of $1,000 par value bonds outstanding. Each bond pays interest semi-annually and carries an annual coupon rate of 10%. These bonds are due to mature in 10 years. If the required rate of return on the bonds (yield to maturity) is 10%, what is the current price of the bond?

Reference no: EM132017901

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