Question: Can anyone answer the following question using the PRICE function in Excel? Ninja Co. issued 14-year bonds a year ago at a coupon rate of

Can anyone answer the following question using the PRICE function in Excel?

Ninja Co. issued 14-year bonds a year ago at a coupon rate of 6.9 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.2 percent, what is the current bond price in dollars?

Here is the information needed to perform the calculation:

Settlement Date: 1/1/2000

Maturity Date: 1/1/2013

Coupon Rate: 6.90%

Coupons per year: 2

Face value: $100

Yield to maturity: 5.20%

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