Question
You are planning on buying $100,000 face value of Australian Commonwealth Government Bonds.The bonds mature on 15 February 2029 and have a coupon rate of
You are planning on buying $100,000 face value of Australian Commonwealth Government Bonds.The bonds mature on 15 February 2029 and have a coupon rate of 4.75%.If your purchase will settle on 27 April 2012, and the quoted yield for the bond is 3.37%, what is the cash price of the bonds to the nearest dollar?
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Financial Management Theory And Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
3rd Canadian Edition
017658305X, 978-0176583057
