Question: 3 . A ( n ) 8 % bond with 1 2 years left to maturity has a YTM of 9 . 7 % .
An bond with years left to maturity has a YTM of The bond's price should be $You should assume as usual that the coupon payments occur semiannually.
A year coupon bond was issued years ago. Similarly risky bonds are yielding Assume semiannual coupon payments. The bond's price should be $
Hint: Original bond maturity is not relevant what matters is the number of coupon payment periods remaining until maturity.
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