Callaghan Motors bonds have 10 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 8 percent. The bonds have a yield to maturity of 9 percent. What is the current market price of these bonds?© BrainMass Inc. brainmass.com March 4, 2021, 6:10 pm ad1c9bdddf
The present value or current market price of these bonds is determined.