Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello, I'm trying to figure out what's question. I will attach my work so someone can help me see what I did wrong A company

hello, I'm trying to figure out what's question. I will attach my work so someone can help me see what I did wrong image text in transcribed
A company issued a ten-year $1,000 face value bond at par with a coupon rate of 7.1% paid semiannually. The YTM at the beginning of the fourth year of the bond (seven years left to maturity) is 8.9%. What was the change in the price of the bond over the three year period? $ ________ (round to 2 decimals, include " - " if the value is negative)
image text in transcribed
Question 1 0/5 pts A company issued a ten-year $1,000 face value bond at par with a coupon rate of 7.1% paid semiannually. The YTM at the beginning of the fourth year of the bond (seven years left to maturity) is 8.9%. What was the change in the price of the bond over the three year period? $ _______ (round to 2 decimals, include "-"if the value is negative) 86.42 70.071 - C..355 1000 TOOC 1.6355 965.72 1.03553 - 900.64

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Principles And Practice

Authors: Timothy J. Gallagher, Joseph D. Andrew

3rd Edition

0131768824, 978-0131768826

More Books

Students also viewed these Finance questions

Question

Recognize how parts of speech function in sentences.

Answered: 1 week ago