Determine the market value of the bond

Reference no: EM13332030

The corporate bond has the face value of $1000 with maturity date 20 years from today. The bond pays interest semiannually at the rate of 8% per year based on the face value. The interest rate paid on a similar corporation bond has decreased to a current rate of 6%. determine the market value of the bond.

Reference no: EM13332030

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