Find the value of pet food company bonds

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Problem 1: Pet Food Company bonds pay an annual coupon rate of 11.18 percent. Coupon payments are paid semiannually. Bonds have 4 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 12.88 percent.

Reference no: EM132990582

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