3 4 Input area: 5 19 6 Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a

bond with a par value of 1,000, 27 years to maturity, and a coupon rate of 3.6 percent paid annually. If the yield to maturity is 3.2 percent, what is the current price of the bond in euros? Settlement date 7 Maturity date 8 Coupon rate 14 15 16 9 10 11 Yield to maturity 12 Par value 13 Coupons per year Redemption value (% of par) 1/1/2020 1/1/2047 3.60% 100 3.20% 1,000 (Use cells A6 to B12 from the given information to complete this question. You must use question. Leave the "Basis" input blank in the function. You may enter a constant as a ha 17 Output area: 18 19 Price (% of par) 20 Price 21 22 23 24 Students: The scratchpad area is for you to do any additional work you need to solve this c 25 Nothing in this area will be graded, but it will be submitted with your assignment. 26