The yleld to maturity for 20-year bonds is as follows for four different bond rating...
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The yleld to maturity for 20-year bonds is as follows for four different bond rating categories. The bonds of Falter Corporation were rated as AAA and issued at par a few weeks ago. The bonds have just been downgraded to AA Determine the new price of the bonds, assuming a 20-year maturity and semiannual interest payments. Assume the par value of the bonds is $1,000. (Use a Financial calculator to arrive at the answers, Round the final answer to 2 decimal places.) Price of the bonds
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