Market Price of Bond Assignment | Homework For You

Hooey bought a 10 year bond from Lowey in January 2016 that matures in December 2018. The coupon rate on the bond is 4% and the coupon payment is once a year in every December. Face value of the bond is $10,000. Current market rate was 6% in January 2016. What market price did Hooey pay to Lowey inJanuary 2016Just write the formula with relevant numbers, no need to calculate.Get Finance homework help today

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