Question
One year ago you bought a 10% coupon (paid semi-annually) bond with a face value of $1,000 and ten years to maturity. The yield to
One year ago you bought a 10% coupon (paid semi-annually) bond with a face value of $1,000 and ten years to maturity. The yield to maturity (nominal, compounded semi- annually) when you purchased the bond was 8%. Today the nominal yield to maturity is 9.27%. What is the current price of the bond?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakin
7th Global Edition
0273754440, 9780273754442
