BOND VALUATION Madsen Motorss bonds have 14 years remaining

BOND VALUATION Madsen Motors\'s bonds have 14 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 6.5%; and the yield to maturity is 7%. What is the bond\'s current market price? Round your answer to the nearest cent. $

N = 14, FV = 1000, rate = 7%, PMT = 65

use PV function in excel

current price = 956.27

$BOND VALUATION Madsen Motors\'s bonds have 14 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is$

BOND VALUATION Madsen Motorss bonds have 14 years remaining

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