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why is the price difference from par not (1197.93-1000) ? YTM with Semiannual Coupons . Suppose a bond with a 10 percent coupon rate and

why is the price difference from par not (1197.93-1000) ?
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YTM with Semiannual Coupons . Suppose a bond with a 10 percent coupon rate and semiannual coupons, has a face value of $1000,20 years to maturity, and is selling for $1,197.93. [Hint: Use approximate YTM + /- 1\%] - Is the YTM more or ss than 10 percent? - What is the semiannual coupon payment? - How many periods are there? Approximate Y TM =21.197.93+1000100+2010001,197.93=0.0820=8.20%;2TM=4.1% Approximate YTM1%=7.20%;2VTM=3.6%

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