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Today is 1 July 2 0 2 1 , William plans to purchase a corporate bond with a coupon rate of j 2 = 2
Today is July William plans to purchase a corporate bond with a coupon rate of j pa and face value of This corporate bond matures at par. The maturity date is January The yield rate is assumed to be j pa Assume that this corporate bond has a chance of default in any sixmonth period during the term of the bond. Assume also that, if default occurs, William will receive no further payments at all. Calculate the purchase price for unit of this corporate bond. Round your answer to three decimal places.
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