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Must be written with a formula Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual

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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of 1,000, 27 years to maturity, and a coupon rate of 3.6 percent paid annually. If the yield to maturity is 3.2 percent, what is the current price of the bond in euros? Input area: Settlement date 1/1/2020 Maturity date 1/1/2047 Coupon rate 3.60% Coupons per year 1 Redemption value (% of par) 100 Yield to maturity 3.20% Par value 1,000 (Use cells A6 to B12 from the given information to complete this question. You must use the built-in Excel function to answer this question. Leave the "Basis" input blank in the function. You may enter a constant as a hard coded value.) Output area: Price (% of par) Price

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