Finance Assignment | Top Essay Writing
Colton Corporation semiannual bonds have a 12-year maturity, an 9.90% nominal coupon paid semiannually, and sell at their $1,000 par value.
The firm’s annual bonds have the same risk. maturity, nominal interest rate, and par value, but these bonds pay interests annually. Neither bond is callable. To provide the same effect annual yield (EFF%) at what price should the annual payment bonds sell？Please round your answer 2 decimal places. Get Finance homework help today