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There is another bond with a more challenging scenario: Issuance Face amount $100 million Issuance date: January 1, 2017 Coupon rate: 9% Effective rate: 8.5%
There is another bond with a more challenging scenario: Issuance Face amount $100 million Issuance date: January 1, 2017 Coupon rate: 9% Effective rate: 8.5% Maturity: January 1, 2022 Payment interval: semiannual One year later Trading Date: January 1, 2018 Coupon rate: 9% Effective rate: 9.2% Maturity: January 1, 2022 Payment interval: semiannual Use Excel to determine the price of the bond as of January 1, 2018. State your answer as a positive number and in millions, e.g. if the answer is $123.45 million enter 123.45
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