Corporate Finance
In the context of interest rates and bond valuation, 'p' often represents the price of a bond or the present value of its future cash flows. It plays a crucial role in determining how much investors are willing to pay for a bond based on its expected returns, interest rates, and risk. Understanding 'p' helps connect the concepts of bond pricing, yield calculations, and market interest rates, which are all essential for evaluating investment opportunities.
congrats on reading the definition of p. now let's actually learn it.