Jackson Corporation's bonds have 12 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 8%. The bonds have a yield to maturity of 9%. What is the current market price of these bonds?© BrainMass Inc. brainmass.com June 3, 2020, 11:52 pm ad1c9bdddf
Number of interest payments=n=12
Maturity Amount=Par Value=M=$1000
Solution describes the steps to calculate current market price of a coupon paying bond.