Suppose that you invested $8,000 in a corporate bond 12 years ago and have be
You will continue to receive annual payments of this same amount for the next 3 years, after which time you will also receive a
payment equal to your initial investment as your
final payment. Suppose another investor is interested in purchasing the bond
from
you. What is the minimum price you should accept
for the bond if the current rate of interest for similar investments is 7 percent?
Instructions: Round your answer to the nearest dollar. Do not round your intermediate calculations for (1+?
Minimum price $
Instructions: Round your answer to the nearest dollar. Do not round your intermediate calculation for (1+i)^t