A bond has the following characteristics as listed below. What is the price of this bond? Provide your answer using the manual approach (discounting the annual returns), and the PV, NPV and Price functions in Excel. (4 different approaches.)

Per Value = $1,000

Annual Coupon= $40

YTM= 3.0%

# of Years = 10 to maturity

Beginning Date= 1/1/2020

Ending Date = 1/1/2030

Answer:

A) Price (Manual) =

B) PV=

C) NPV=

D) Price =