Calculate the value of the bonds
Question: Essex Biochemical Co. has a $1,000 par value bond outstanding that pays 10% yearly interest. The current yield to maturity on such bonds in the market is 7%. Calculate the value of the bonds for these maturity dates: 30 years & 1 year.
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Essex Biochemical Co. has a $1,000 par value bond outstanding that pays 10% yearly interest. The current yield to maturity on such bonds in the market is 7%.
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