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Using Excel, calculate the Full price (no accrued adjustments) of a bond (show excel work/formulas) Given Information: Par Value of $10,000,000 Benchmark Index Value of
Using Excel, calculate the Full price (no accrued adjustments) of a bond (show excel work/formulas)
Given Information:
- Par Value of $10,000,000
- Benchmark Index Value of 0.65%
- Quoted Margin: 1.5%
- Discount Margin: 2.5%
- Pay Dates 3/31, 6/30, 9/30, 12/31; quarterly pay
- First Pay Date 3/31/2020
- Issue Date 12/31/2019 - bond should be priced as of this date
- 5-years to Maturity
- Bullet Cash Flow Structure
Answer should come out to: $9,539,060.31
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