The yield to maturity of a $1,000 bond with a 6.8% coupon rate, semiannual coupons, and two years to maturity is 8.3% APR, compounded semiannually. What is its price? The price of the bond is $ (Round to the nearest cent.) C..

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
Section: Chapter Questions
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The yield to maturity of a $1,000 bond with a 6.8% coupon rate, semiannual coupons, and two years to maturity is 8.3% APR, compounded semiannually. What is its price?
The price of the bond is $ (Round to the nearest cent.)
...
Transcribed Image Text:The yield to maturity of a $1,000 bond with a 6.8% coupon rate, semiannual coupons, and two years to maturity is 8.3% APR, compounded semiannually. What is its price? The price of the bond is $ (Round to the nearest cent.) ...
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