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Bond A Face value: $2,000,000 Coupon: 2.25% p.a. payable semiannually Repayment: Bullet at maturity Maturity: 31 December 2020 Yield: The yield required by investors for

Bond A Face value: $2,000,000

Coupon: 2.25% p.a. payable semiannually

Repayment: Bullet at maturity

Maturity: 31 December 2020

Yield: The yield required by investors for a 5-year bond rated A+ by Standard & Poors and A1 by Moodys is 2.5%

What is the value of Bond A on 31 December 2015?

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