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Westco Co. issued 15 -year bonds a year ago at a coupon rate of 5.4 percent. The bonds make semiannual payments and have a par
Westco Co. issued 15 -year bonds a year ago at a coupon rate of 5.4 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on 2 these bonds is 4.5 percent, what is the current price of the bond in dollars? (Use cells A6 to B12 from the given information to complete this question. You must use the built-in Excel function to answel this question. Leave the "Basis" input blank in the function. You may enter a constant as a hard coded value.)
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