What is bonds current market price

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Bond valuation

Madsen Motors's bonds have 16 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 10.5%; and the yield to maturity is 7%. What is the bond's current market price? Round your answer to the nearest cent. $

Reference no: EM131316637

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What is bonds current market price : Madsen Motors's bonds have 16 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 10.5%; and the yield to maturity is 7%. What is the bond's current market price?

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