Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a...
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Accounting
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $ 1 comma 000$1,000, and a coupon rate of 7.2 %7.2% (annual payments). The yield to maturity on this bond when it was issued was 6.3 %6.3%. What was the price of this bond when it was issued?
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