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 4, 2020, 2:19 am ad1c9bdddf
This solution illustrates how to compute the market price of a bond.