Required rate of return on bond

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Reference no: EM131542009

What is the excel formula for this question:

What is the value of a bond that has a par value of $1,000, a coupon rate of 9.97 percent (paid annually), and that matures in 16 years? Assume a required rate of return on this bond is 11.03 percent.

Reference no: EM131542009

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