Question
Four $1000 bonds with 2.8% coupons payable semi-annually are purchased three months after a coupon matures, to yield 1.4% compounded annually. The bond matures in
Four $1000 bonds with 2.8% coupons payable semi-annually are purchased three months after a coupon matures, to yield 1.4% compounded annually. The bond matures in ten years.
a) What is the market price or quoted price of the bonds? Ans: 4534.95
b) What is the accrued interest? Ans: 28.00
c) What is the cash price? Ans: 4562.95
*Answers are given, just would like to see the easiest solution to get there. Using TI BA II PLUS. Please show calculator solution if possible. Thank you. *
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Gold And Debt
Authors: William Lyman Fawcett
1st Edition
1144211727, 978-1144211729
