Question
A $1,000 par value 16-year bond with m coupons per annum has a price of $910.63. If the write-up value in the book value of
A $1,000 par value 16-year bond with m coupons per annum has a price of $910.63. If the write-up value in the book value of the bond in the first 8 years is $54 and the yield rate of the bond is 5.0945% effective per annum, find the redemption value of the bond.
Please show all work by hand, without using a finance calculator or Excel. Thank you.
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Personal Finance
Authors: E. Thomas Garman, Raymond Forgue
8th Edition
0618471421, 9780618471423
