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non-callable bonds

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e_chuc | 01:34 Tue 19th Dec 2006 | Business & Finance
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A firm plans to issue $5 million of perpetual bonds. The face value of each bond is $1,000. The annual coupon on the bonds is 12%.

If the firm's bond are non callab.e, what is the price of the bonds?
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Avatar Image redcrx
�3.56
10:56 Tue 19th Dec 2006
Avatar Image CheekyChops
But of course, your question is on dollars so redcrx's answer would convert to $58.67
12:22 Tue 19th Dec 2006
Avatar Image redcrx
thanks cheekychops, I didnt think to convert it, silly me
12:42 Tue 19th Dec 2006
Avatar Image Hammer
Ah, but it could be Aussie dollars, so the answer is obviously �58,598,168.28
15:29 Wed 20th Dec 2006

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