Finance : Interest and Calculation of Cost of Debt of Bond
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Given the following:
bond value: 20,000
maturity: 15 years
rate: 7% (face value of $1,000)
selling: at 92%
semi annual payments
What is the value of I (interest) when entered in a math calculator?
(I continue to get syntax errors with my multiple attempts).
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Solution Summary
Interest on a bond is calculated. The solution is detailed and well presented.
Solution Preview
On the financial calculator, enter
FV = 20000
Number of periods = 15 *2 = 30
payment ...
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