Question: Help please. I did 1 - 1/(1+y)^n + FV/(1+y)^n. I thought that was the formula but not sure where I went wrong. thanks in advance.

Help please. I did 1 - 1/(1+y)^n + FV/(1+y)^n. I thought that was the formula but not sure where I went wrong. thanks in advance.

Help please. I did 1 - 1/(1+y)^n + FV/(1+y)^n. I thought that

Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7.6% (annual payments). The yield to maturity on this bond when it was issued was 6.2%. Assuming the yield to maturity remains constant, what is the price of the bond immediately after it makes its first coupon payment

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