The Commonwealth of Kentucky issued a zero-couponbond with aparvalueof$1,000thatmatureson October1,2027.Lets assume it is now October1,2007,theoriginalissue date of
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The Commonwealth of Kentucky issued a zero-couponbond with aparvalueof$1,000thatmatureson October1,2027.Lets assume it is now October1,2007,theoriginalissue date of this zero-coupon bond. We will also assume the original issue of the bond had a yield to maturity of4.3%stated annually. What was the bondsoriginalissueprice?
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