Question
Consider a bond with a coupon rate of 12% and annual coupons. The par value is $1,000, and the bond has 4 years to maturity.
Consider a bond with a coupon rate of 12% and annual coupons. The par value is $1,000, and the bond has 4 years to maturity. The yield to maturity is 13%. What is the value of the bond?
a. $1,000.00
b. $812.45
c. $970.26
d. $863.04
If using calculator named Ba 2 plus Texas Instruments is possible, please offer the answer using it.
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Analysis For Financial Management
Authors: Robert Higgins
6th Edition
0071181172, 9780071181174
