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Calculate (the present value of) the amount of interest excess or interest deficiency of the following bond: Par value: $100. Coupon rate 6.8%. Yield-to-maturity 6.5
Calculate (the present value of) the amount of interest excess or interest deficiency of the following bond: Par value: $100. Coupon rate 6.8%. Yield-to-maturity 6.5 %. The term of the bond is 5 years. Assume the bond pays interest twice a year, and semi-annual compounding. Express the amount of interest excess as a positive number and the amount of interest deficiency as a negative number. Round your answer to 2 decimal places. For example, if your answer is 25.689, please write down 25.69.
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