How much should you have paid for the bond

Reference no: EM13279111

You have just purchased a 10-year, $1,000 par value bond. The coupon rate on this bond is 8% annually. Interest will be paid at the end of each year. If you expect to earn a 10% nominal rate of return on this bond, how much should you have paid for the bond?

Reference no: EM13279111

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