Question
21. Compute the price, today, of the following bond. The bond has semiannual coupon payments and a par value of $1,000. The bond matures in
21.
Compute the price, today, of the following bond. The bond has semiannual coupon payments and a par value of $1,000. The bond matures in 20 years, has a coupon rate of 8%, and has, today, a yield to maturity (YTM) of 11%. The bond price is ________
For the answer: round to the nearest 0.01 cent; use comma to separate thousands; and do not use the dollar ($) sign.
For excel file with TVM formulas, click here
Your Answer: ______
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