Union Local School District has a bond outstanding with a coupon rate of 2.9 percent paid semiannually
Question:
Union Local School District has a bond outstanding with a coupon rate of 2.9 percent paid semiannually and 16 years to maturity. The yield to maturity on this bond is 2.7 percent, and the bond has a par value of $5,000. What is the dollar price of the bond?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
Using finnil lultr t lulte the ...View the full answer
Answered By
Antony Mutonga
I am a professional educator and writer with exceptional skills in assisting bloggers and other specializations that necessitate a fantastic writer. One of the most significant parts of being the best is that I have provided excellent service to a large number of clients. With my exceptional abilities, I have amassed a large number of references, allowing me to continue working as a respected and admired writer. As a skilled content writer, I am also a reputable IT writer with the necessary talents to turn papers into exceptional results.
4.50+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
Related Video
The yield to maturity (YTM) is the percentage rate of return for a bond assuming that the investor holds the asset until its maturity date. This video will give a complete tutorial on how to calculate Yield to Maturity on Microsoft Excel
Students also viewed these Business questions
-
The Pioneer Petroleum Corporation has a bond outstanding with an $85 annual interest payment, a market price of $800, and a maturity date in five years. Find the following: a. The coupon rate. b. The...
-
Union Local School District has bonds outstanding with a coupon rate of 3.9 percent paid semiannually and 16 years to maturity. The yield to maturity on these bonds is 4.2 percent and the bonds have...
-
Too Young, Inc., has a bond outstanding with a coupon rate of 7.3 percent and semiannual payments. The bond currently sells for $1,870 and matures in 20 years. The par value is $2,000. What is the...
-
If a price ceiling or price floor existed where you lived, would you be willing to purchase products on the black market? What would you identify as a consequence to engaging in transactions on the...
-
What is the standard free-energy change Go at 25oC for the following reaction? Obtain necessary information from Appendix C. H2(g) + Br2(l) 2HBr(g) What is the value of the thermodynamic equilibrium...
-
The owner of Mimis, a French restaurant, is deciding whether to take chicken lorange off the menu. State whether each item of decision information that follows is qualitative or quantitative. If the...
-
Edward Entrepreneur has an idea for a new business venture. He has designed an electronic gizmo, the Wonder Cleaner, to assist with routine household chores. Edward wants to set up a corporation to...
-
Diane Bernick has opened Bernicks Consulting. Journalize the following transactions that occurred during January of the current year. Use the following journal pages: January 110, page 1, and January...
-
Operating systems and application programs play vital role in our daily usage of computers. Differentiate between an operating system and an application program give examples each.
-
1.Why did US film companies JV with Chinese companies - Where on the value chain did Chinese companies add value? Why is a JV presumably better than a merger and acquisition or a strategic alliance?...
-
Yan Yan Corp. has a $2,000 par value bond outstanding with a coupon rate of 4.7 percent paid semiannually and 13 years to maturity. The yield to maturity of the bond is 5.05 percent. What is the...
-
If Treasury bills are currently paying 4.6 percent and the inflation rate is 1.9 percent, what is the approximate real rate of interest? The exact real rate?
-
Santa Fe Corporation has computed the following unit costs for the year just: Direct material used $25, Direct labor 19, Variable manufacturing overhead 35, Fixed manufacturing overhead 40, Variable...
-
The opportunity PEZZ Industries Ltd. ("PEZZ") was referred to you by their accountant for a new financing opportunity. PEZZ is a manufacturer & wholesale distributor of protective products for use in...
-
Based on the quarter ended March 2023 financial results on investor.siriusxm.com , below and discuss whether Sirius XM's recent financial reports indicate that its business model is working. (i) Are...
-
For New England Corporation mentioned in Question 1 above: (i)Estimate the EFN for 2021 using the "Direct Method". [10 POINTS] (ii)The "direct method" EFN formula has three parts to it. Briefly...
-
Write an expression to represent the sum of three times the square of a number and 7 In your expression, what is the value of the constant?
-
There are 5 different doughs, 2 different cheeses, and 6 different toppings to choose from. How many different pizzas can Mr. Cummings possibly order?
-
Given angles ,
-
The production budget of Artest Company calls for 80,000 units to be produced. If it takes 30 minutes to make one unit and the direct labor rate is $16 per hour, what is the total budgeted direct...
-
Buy Coastal, Inc., imposes a payback cutoff of three years for its international investment projects. If the company has the following two projects available, should it accept either ofthem? Yearsh...
-
An investment project has annual cash inflows of $3,200, $4,100, $5,300, and $4,500, and a discount rate of 14 percent. What is the discounted payback period for these cash flows if the initial cost...
-
An investment project costs $10,000 and has annual cash flows of $2,900 for six years. What is the discounted payback period if the discount rate is zero percent? What if the discount rate is 5...
-
Graph x2+2 169 = 0, find y' by implicit differentiation, and find the slope of the graph when x = 5.
-
Analyze how the various pandemic-related factors have shaped US trade, and how they affected consumer prices and the US economy. (Include concrete examples and provide your references)
-
Consider G(s) => (s+1) 10 and P(s) = 82+11s+10 Sketch the pole-zero plot for each transfer function. Then, plot (with a computer) the unit step response of each system on the same plot. (I recommend...
Study smarter with the SolutionInn App