Question
Calculate the current price of a $1,000 par value bond that has a coupon rate of 19 percent, pays coupon interest semi-annually, has 28 years
Calculate the current price of a $1,000 par value bond that has a coupon rate of 19 percent, pays coupon interest semi-annually, has 28 years remaining to maturity, and has a current yield to maturity (discount rate) of 6 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).
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Financial Modeling
Authors: Simon Benninga
4th Edition
0262027283, 9780262027281
