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Denis purchased a $ 1 0 , 0 0 0 face value Ontario Hydro Energy bond maturing in six years. The coupon rate was 7
Denis purchased a $ face value Ontario Hydro Energy bond maturing in six years. The coupon rate was payable semiannually. If the prevalling market rate at the time of purchase was compounded semiannually. What phice did Denis pay for the bond? Do not round the intermediate colculations. Round your final answer to decimal places
Assume that
Band interest is paid semiannually.
The bona was originally issued at its tace value.
Bonds are redeemed at their face value at maturity
Market rates of retum are compounded semiannixally.
Bond price
$
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