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Suppose a 7-year bond has a face value of $1,000 and has a semi-annual YTM of 0.022. It pays semi-annual coupons of 8%. What is
Suppose a 7-year bond has a face value of $1,000 and has a semi-annual YTM of 0.022. It pays semi-annual coupons of 8%. What is the bonds price?
Instruction: TypeONLYyour numerical answerin the unit of dollars,NO $ sign, NO comma, andround to the nearest whole number. E.g., if your answer is $7,001.56, should typeONLYthe number 7002, NEITHER 7,001.6,$7001.6,$7,001.6, NOR 7001.56.Otherwise, Blackboard will treat it as a wrong answer.
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