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Suppose a bond has an annual coupon of $4 per year paid in two semiannual installments and par value of $100. Assume a semiannual period
Suppose a bond has an annual coupon of $4 per year paid in two semiannual installments and par value of $100. Assume a semiannual period is 180 days and there are 57 days until the next coupon . Besides the next coupon in 57 days , there will be five more semiannual coupons and a par value of $100 at final maturity . Compute the bond's clean price if annualized semiannually compounded yield to maturity is 3.80%
98.4
102.9
99.2
100.5
101.6
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