The other is an 8 23-year bond priced to yield 65 which of


Two bonds have par values of $1,000. One is a 4%, 15-year bond priced to yield 10.0%. The other is a(n) 8%, 23-year bond priced to yield 6.5%. Which of these two has the lower price? (Assume annual compounding in both cases.)

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Financial Management: The other is an 8 23-year bond priced to yield 65 which of
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