Marco chip inc just issued zero-coupon bonds with a par, Financial Management

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Marco chip inc just issued zero-coupon bonds with a par

Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 22 years and a yield to maturity of 12.90 percent, compounded semi-annually. What is the current price of the bond? Round the answer to two decimal places

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Financial Management: Marco chip inc just issued zero-coupon bonds with a par

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Financial Management: Marco chip inc just issued zero-coupon bonds with a par

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