Question
Consider the following bond issued by Walmart: coupon rate: 4.441% face value: $1,000 maturity date: July 15, 2040 semi-annual coupons settlement date: March 8, 2020
Consider the following bond issued by Walmart:
- coupon rate: 4.441%
- face value: $1,000
- maturity date: July 15, 2040
- semi-annual coupons
- settlement date: March 8, 2020
- yield (YTM): 7.249%
- most recent coupon payment date: January 15, 2020
What is the value of the bond? (Equivalently, we are calculating the "dirty price".) Express your answer as the dollar and cents price for a bond with $1,000 face value.
Do not round at intermediate steps in your calculation. Round your answer to the nearest penny. Do NOT include a minus sign! Do not type the $ symbol.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
