Business, 28.02.2021 16:30, wendymtz2004

ReNew Corporation raises funds to build renewable energy systems by issuing 3-year bonds with a coupon rate of 6% and a face value of $1,600. Assume that the market interest rate for a 3-year bond issued by a firm like ReNew is currently the same as the coupon rate. The price of each of these bonds is , which means that the bonds sell at _. Suppose that the market interest rate for bonds that are similar to the ReNew bond has increased to 7%. The price of the ReNew bond changes to , which means that it sells at . Suppose that instead of rising, the market rate decreases from 6% to 4%. The new price of the bond changes to _, which means that the bond sells at ___.

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ReNew Corporation raises funds to build renewable energy systems by issuing 3-year bonds with a coup...