What is the bond current market price

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Bond Valuation

A. Madsen Motors's bonds have 10 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 12%; and the yield to maturity is 8%. What is the bond's current market price? Round your answer to the nearest cent. $________

b. Nesmith Corporation's outstanding bonds have a $1,000 par value, a 6% semiannual coupon, 18 years to maturity, and an 7% YTM. What is the bond's price? Round your answer to the nearest cent. $________

Reference no: EM131316166

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