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A Government of Canada bond has 13 years remaining to maturity, pays annual coupons (yesterday) of $30, and has a face value of $1,000.
A Government of Canada bond has 13 years remaining to maturity, pays annual coupons (yesterday) of $30, and has a face value of $1,000. The bond is currently priced to yield 3.00%. What is the fair price for the bond today? (Assume that yields are expected to remain constant at the current level over the bond's life)). Round your answer to two decimal places.
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
