Your financial adviser recommends buying a 10-year bond with a face value of $1,000 and an annual coupon of $65. The current interest rate is 5 percent. What might you expect to pay for the bond (aside from brokerage fees)?
Your financial adviser recommends buying a 10-year bond with a face value of $1,000 and an annual coupon of $65. The current interest rate is 5 percent. What might you expect to pay for the bond (aside from brokerage fees)?