Question
Macro Chip, Inc. just issued zero-coupon bonds with a par value of $1000. The bond has a maturity of 16 years and a yield to
Macro Chip, Inc. just issued zero-coupon bonds with a par value of $1000. The bond has a maturity of 16 years and a yield to maturity of 13.03%, compounded semi-annually. What is the current price of the bond?
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
