Question
The yield to maturity of a $1,000 bond with a 7.2% coupon rate, semiannual coupons, and two years to maturity is 8.9% 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
8.9%
APR, compounded semiannually. What is its price?
The price of the bond is what ?
(Round to the nearest cent.)
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International Financial Management
Authors: Jeff Madura, Roland Fox
4th Edition
147372550X, 9781473725508
