Question
Yan Yan Corp. has a $4,000 par value bond outstanding with a coupon rate of 5.7 percent paid semiannually and 20 years to maturity. The
Yan Yan Corp. has a $4,000 par value bond outstanding with a coupon rate of 5.7 percent paid semiannually and 20 years to maturity. The yield to maturity of the bond is 6.6 percent.
| What is the dollar price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Bond price | $ |
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
