Question
The yield to maturity of a $1,000 bond with a 7.2% coupon rate, semiannual coupons, and two years to maturity is 8.8% APR, compounded semiannually.
The yield to maturity of a
$1,000
bond with a
7.2%
coupon rate, semiannual coupons, and two years to maturity is
8.8%
APR, compounded semiannually. What is its price?
The price of the bond is
$______
(Round to the nearest cent.)
Also please explain how you got the CPN
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Finance For Non Financial Managers
Authors: Pierre Bergeron
6th Edition
0176501630, 9780176501631
