Question
Assume that you wish to buy a bond with 15 years to maturity, with a par value of $1,000, and a coupon rate of 22.38%.
Assume that you wish to buy a bond with 15 years to maturity, with a par value of $1,000, and a coupon rate of 22.38%. Assume semi-annual payments. If the yield to maturity (YTM) is 21.91%, what is today's price of this bond?
Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.
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Entrepreneurial Finance
Authors: Philip J. Adelman, Alan M. Marks
4th Edition
0132434792, 9780132434799
