Question: Problem 1 8 - 1 1 Municipal Bonds ( LO 3 , CFA 2 ) A municipal bond with a coupon rate of 4 percent

Problem 18-11 Municipal Bonds (LO3, CFA2)
A municipal bond with a coupon rate of 4 percent has a yield to maturity of 5 percent. Assume a face value of $5,000. If the bond has
5 years to maturity, what is the price of the bond?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Price of the bond
Problem 18-11 Municipal Bonds (LO3, CFA2) A municipal bond with a

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