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Here, the bond's cash-flows are $4 in 6, 12, 18, 24, and 30 months, and $104 in 36 months. Using again the bond price's

Here, the bond's cash-flows are $4 in 6, 12, 18, 24, and 30 months, and $104 in 36 months. Using again the bond price's expression, we have the following equation in terms of the bond -4e 2.5y +104e -3.0y 4e e-053 +4e-203 +46-153 +4e7 =104

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Step 11 Assume y 3 for 6 months as a period then Y 4 PVIFA 36 100 PVIF 36 4 54172 100 08375 1054188 ... blur-text-image

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