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Please help answer. The answer that I am coming up with is below but it is wrong. I have tried rounding up and down and
Please help answer. The answer that I am coming up with is below but it is wrong. I have tried rounding up and down and it is still incorrect.
Blossom Corp. issued a four-year bond one year ago with a coupon rate of 5.0 percent. The bond pays interest semiannually. If the yield to maturity on this bond is 9 percent, what is the price of the bond? (Round answer to 2 decimal places, e.g. 5,275.25.) Price of bond $ 896.82Step by Step Solution
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