Question
A corporate bond with a coupon rate of 7% pays interest semiannually and has a maturity date of August 1, 2024. The purchasing trade settles
A corporate bond with a coupon rate of 7% pays interest semiannually and has a maturity date of August 1, 2024. The purchasing trade settles on Nov. 19, 2020. The yield to maturity is 4%.
1) What is the flat (or clean) price of the bond (in percent of par) on the settlement date? Use Excel's PRICE() function.Dates must be entered with Excel's DATE() function.
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Personal Financial Planning
Authors: Lewis J. Altfest
2nd edition
1259277186, 978-1259277184
