A coupon bond has a face value of $1,000. with 4.51% coupon rate. It matures in 9 years, and has a yield to maturity of 8.19%. What is the price of the bond? NOTE: Submit your answers with 4 decimals after the dot.
Added by Timothy S.
Step 1
The coupon payment is 4.51% of the face value, which is $1,000. So, the coupon payment is $1,000 * 0.0451 = $45.10. Show more…
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