ou are considering a 30-year, $1,000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.     Open spreadsheet   If you require an "effective" annual interest rate (not a nominal rate) of 11.29%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent. $  fill in the blank 2

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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ou are considering a 30-year, $1,000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

 

 
Open spreadsheet

 

If you require an "effective" annual interest rate (not a nominal rate) of 11.29%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent.

$  fill in the blank 2

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