Calculate the current price of a bond that pays semi annual
Calculate the current price of a bond that pays semi-annual coupon payments and has the following characteristics:
(a) NPER—15,
(b) Coupon Payments--$73, and
(c) Market Rate of Interest—13%.the market rate. Using Excel's PV() function: RATE 6.50% (This is the semi-annual required rate of return or YTM.) NPER 15 (This is the number of semi-annual periods to maturity.) MT($73.00) (This is the semi-annual coupon interest payment.)FV($1,000.00) (This is the par or face value of the bond .)TYPE 0(Input 0 or 1. 0 or blank means ordinary annuity. 1 means annuity due.)PV$1,075.22 (Type formula here: = PV(rate, nper, pmt, fv, type)

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