A Firm Has an Issue of $1,000 Par Value Bonds

question 83

Multiple Choice

A firm has an issue of $1,000 par value bonds with a 9 percent stated interest rate outstanding. The issue pays interest annually and has 20 years remaining to its maturity date. If bonds of similar risk are currently earning 11 percent, the firm's bond will sell for ________ today.

• A) $1,000
• B) $716.67
• C) $840.73
• D) $1,123.33

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Definitions:

Confidence Interval Estimate

A spectrum of estimations, derived from sampling statistics, considered likely to grasp the value of a hidden population parameter.

Semester Hours

Units of credit typically representing one hour of lecture or classroom time per week over a semester.

Day Students

Students who attend classes during the day and typically return home in the evening, as opposed to boarding students.

Evening Students

Students who attend classes or courses during the evening hours, often due to day-time commitments.