Question: Problem 1 8 - 2 4 STRIPS Price ( LO 1 , CFA 2 ) A STRIPS traded on May 1 , 2 0 2

Problem 18-24 STRIPS Price (LO1, CFA2)
A STRIPS traded on May 1,2022, matures in 18 years on May 1,2040. Assuming a yield to maturity of 5.3 percent, what is the STRIPS price?
Note: Use Excel to answer this question. Enter your answer as a percentage of par value. Round your answer to 4 decimal places.

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