Question
A 5%, $1,000 bond makes coupon payments on June 15 and December 15 and is trading with a YTM of 4% (APR). The bond is
A 5%, $1,000 bond makes coupon payments on June 15 and December 15 and is trading with a YTM of 4% (APR). The bond is purchased and will settle on August 21 when there will be four coupons remaining until maturity. Calculate the full price of the bond using actual days.
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Investments An Introduction
Authors: Herbert B Mayo
9th Edition
324561385, 978-0324561388
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