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A $1 000 Par Value Bond Pays Interest Of $40 Each Quarter And Will Mature In 10 Years

If your nominal annual

Question

A $1,000 par value bond pays interest of $40 each quarter and will mature in 10 years. If your nominal annual

required rate of return is 12 percent with quarterly compounding, how much should you be willing to pay for this bond? How do I solve this using Excel?

Finance