A year ago, Co. sold14yrbonds. Thecoupon rate is7.4%. Face value is $1,000.They're semiannual payments. The YTMis 5.4%,

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A year ago, Co. sold14yrbonds. Thecoupon rate is7.4%. Face value is $1,000.They'resemiannual payments.

The YTMis 5.4%, what's the price? Hint: don't forget to adjust the maturity for it being a year later, so the NPER has declined by two semi-annual periods. Once again, for all the semi-annual problems divide the coupon rate and YTM by 2, and multiply NPER by 2.

Do not round intermediate calculations. Round your answer to 2 decimal places

Related Book For answer-question

Foundations of Financial Management

ISBN: 978-1259024979

10th Canadian edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

Posted Date: Mar 12, 2024 02:41 AM

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A year ago, Co. sold14yrbonds. Thecoupon rate is7.4%. Face value is $1,000.They're semiannual payments. The YTMis 5.4%,

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To calculate the price of the bonds a year later with a YTM Yield to Maturity of 54 you will ne... View the full answer

Foundations of Financial Management

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