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The Jackson Company's bonds

The Jackson Company's bonds mature in 4 years, have a par value of $1000 and an annual coupon payment of $80. The market interest rate for the bonds is 9%. What is the price of these bonds?

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The Jackson Company's bonds mature in 4 years, have a par value of $1000 and an annual coupon payment of $80. The market interest rate for ...

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This solution is comprised of a detailed explanation to answer what is the price of these bonds.

$2.19