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# Suppose Hillard Manufacturing sold an issue of bonds with a

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Suppose Hillard Manufacturing sold an issue of bonds with a 10 year maturity a \$1000 par value a 10% cupon rate and semiannual interest payments.

Two years after the bonds were issued, the going rate of interest on bonds such as these fell to 6%. At what price would the bonds sell?

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Suppose Hillard Manufacturing sold an issue of bonds with a 10 year maturity a ...

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Suppose Hillard Manufacturing sold an issue of bonds with a 10 year maturity a \$1000 par value a 10% cupon rate and semiannual interest payments.

Two years after the bonds were issued, the going rate of interest on bonds such as these fell to 6%. At what price would the bonds sell?

\$2.49