Maturity bond outstanding with annual coupon rate

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Reference no: EM131865057

This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems.

General Mills has a $1,000 par value, 17-year to maturity bond outstanding with an annual coupon rate of 8.90 percent per year, paid semiannually. Market interest rates on similar bonds are 10.12 percent. Calculate the bond’s price today.

Round the answer to two decimal places.

Reference no: EM131865057

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