A STRIPS traded on April 30, 2020, matures in 18 years on May 1, 2038. Assuming a yield to maturity of 6 percent, what is the STRIPS price?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
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A STRIPS traded on April 30, 2020, matures in 18 years on May 1, 2038. Assuming a yield to maturity of 6 percent, what is the STRIPS price?

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