The Morrissey company's bonds mature in 7 years, have a par value of $1000, and make an annual coupon payment of $70. The market interest rate for the bond is 8.5%. what is the bond's price?© BrainMass Inc. brainmass.com June 3, 2020, 10:54 pm ad1c9bdddf
The bond's price is the present value of interest and principal. The annual interest is $70 and the principal ...
The solution explains how to calculate the price of a bond