Question: I am trying determine the answer of this question using excel, however, the =pv formula does not give me the correct answer. i believe i
I am trying determine the answer of this question using excel, however, the =pv formula does not give me the correct answer. i believe i am doing it wrong. here is the question.
| Microhard has issued a bond with the following characteristics: |
| Par: $1,000 |
| Time to maturity:9 years |
| Coupon rate: 12 percent |
| Semiannual payments |
| Calculate the price of this bond if the YTM is(Do not round intermediate calculations and round your answersto 2 decimal places, e.g., 32.16.): |
| Price of the Bond | ||
| a. | 12 percent | $ |
| b. | 14 percent | $ |
| c. | 10 percent | $ |
|
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