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Use excel if possible please! Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1000, and

Use excel if possible please! image text in transcribed
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1000, and a coupon rate of 7% (annual payments). The yield to maturity on this bond when it was issued was 6%. Use this information to solve Problems 5-7. 5. What was the price of this bond when it was issued? (Answer: $1,073.60) I used the excel formula -PVC6%,10,-70,-1000) and got $1,073.60 6. Assuming the yield to maturity remains constant, what is the price of the bond immediately before it makes its first coupon payment? 7. Assuming the yield to maturity remains constant, what is the price of the bond immediately after it makes its first coupon payment

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