question archive Nunavet Ocean Cruises sold an issue of 12-year $1,000 par bonds to build new ships
Nunavet Ocean Cruises sold an issue of 12-year $1,000 par bonds to build new ships
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Nunavet Ocean Cruises sold an issue of 12-year $1,000 par bonds to build new ships. The bonds pay 4.85% interest, semiannually. Today's required rate of return is 9.7%. How much should these bonds sell for today? Round off to the nearest $1. How do you get the answer using BA Plus 2
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