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Find out the price of the bond

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Question - With a view to raise large amount of debt financing for expansion purposes, Tulip Co. will issue bonds which would have a maturity of 15 years. The annual coupon interest rate on the bond is 8% and the par value of each bond is $2000 that pays interest semiannually. If the yield to maturity is 10% then find out the price of the bond? Upon calculation of the price please specify what type of a bond is this?

Reference no: EM132948084

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