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Compute the value of pet food company bonds

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Question - Pet Food Company bonds pay an annual coupon rate of 7.48 percent. Coupon payments are paid semiannually. Bonds have 8 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 8.98 percent.

Reference no: EM133068722

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