A bond has a coupon rate of 7.9% and pays coupons annually. The bond matures in 4 years and the yield to maturity on similar bonds is 6.7%. What is the price of the bond?

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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  1. A bond has a coupon rate of 7.9% and pays coupons annually. The bond matures in 4 years and the yield to maturity on similar bonds is 6.7%. What is the price of the bond?  

     

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