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Essex Biochemical Co. has a $1,000 par value bond outstanding that pays 20 percent annual interest. The current yield to maturity on such bonds in the market is 12 percent. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Compute the price of the bonds for the maturity dates: (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)
a. 30 years
b. 25 years
c. 6 years
Using the historical approach, what is the estimate of DEF’s expected return.
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You must first set up a correct equation for the valuation of the bond, and then find the yield-to-maturity.
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On December 31, 2010, Green Company finished consultation services and accepted in exchange a promissory note with a face value of $400,000, a due date of December 31, 2012, and a stated rate of 5%, with interest receivable at the end of each year. D..
The Florida lottery agrees to pay the winner 256,000 at the end o each year for 20 years. What is the future value of this prize if each payment is put in a account earning0.10
A 4-year bond with a 6.50% coupon and a 9.50% yield to maturity is currently worth $903.87, how much will it be worth 1 year from now if interest rates are constant?
If the firm's required rate of return on equal-risk investments is 25 percent, assuming a 365-day year, should the firm offer the proposed discount?
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