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Calculate the purchase price (flat) of the $1,000 face value bond using the information given below. (Do not round the intermediate calculations. Round your final
Calculate the purchase price (flat) of the $1,000 face value bond using the information given below. (Do not round the intermediate calculations. Round your final answer to 2 decimal places.) Issue date Jan 1, 2014 Purchase date April 15, 2014 Coupon rate (X) 5.3 Market rate (%) 5.8 Assume that: Bond interest is paid semiannually. The bond was originally issued at its face value Bonds will be redeemed for their face value at maturity Market rates of retum and yields to maturity are compounded semiannually. Purchase price $[ Maturity date Jan 1, 2029
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