Several years ago, castles in the sand, inc. issued bonds at face
Several years ago, Castles in the Sand, Inc. issued bonds at face value at a yield to maturity of 7%. Now with 8 years left until the maturity of the bonds, the company has run into hard times and the yield to maturity on the bonds has increased to 15%. a. What has happened to the price of the bond? b -Suppose that […]