A 23-year bond with a coupon rate of 4.4% has a yield of 7.6%.  The bond pays coupons semi-annually.  What is the price of the bond?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
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A 23-year bond with a coupon rate of 4.4% has a yield of 7.6%.  The bond pays coupons semi-annually.  What is the price of the bond?

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