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You become the owner of a bond with fifteen years to maturity and has a $1,000.00 par value. The bond has a yield-to-maturity of 9.00%
You become the owner of a bond with fifteen years to maturity and has a $1,000.00 par value. The bond has a yield-to-maturity of 9.00% and a coupon rate of 7.00%. It has been 122 days since the last coupon payment. There are 60 days remaining until the next coupon payment. The bonds clean ask price is $83.7111 and its clean bid price is $83.4600. Approximately how much did you have to pay for the bond?
Multiple Choice
$848.65
$858.06
$860.57
$867.28
$813.65
$881.52
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