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What is the band current market price

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Question 1: Madsen Meters's bonds have 8 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 9%, and the yield to maturity is 10%. What is the band's current market price? Round your answer to the nearest cent.

A bond has a $1,000 par value, 15 years to maturity, and an 8% annual coupon and sells for $1,080.

Question a. What is its yield to maturity (YTM)? Round your answer to two decimal places.

Question b. Assume that the yield to maturity remains constant for the next four years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

Reference no: EM132485368

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