Milly Corporation bonds were originally issued with a maturi…
Milly Corporation bonds were originally issued with a maturity of 10 years and currently have 8 years left until maturity. You could invest in other similar bonds in the market and earn 3%. When issued, the coupon rate of these bonds was set at 5%. If these bonds are currently selling for $920, how much should you pay (aka calculated PV) for one of these bonds today? (4) FV PV n i PMT