Question
the yield to maturity of a $1,000 bond with a 7.4% 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 7.4% 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 nearest cent) Please show me how you get each number in the formula.
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Public Finance Administration
Authors: B. J. Reed, John W. Swain
2nd Edition
0803974051, 978-0803974050
