General mills have a 1000 par value 12-year bond


General mills have a $1000 par value, 12-year bond outstanding with an annual coupon rate of 3.60% per year, paid semi annually. Market interest rates on similar bonds are 12.70%. Calculate the bond's price today. Show work

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Financial Management: General mills have a 1000 par value 12-year bond
Reference No:- TGS0977210

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