Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 11 years Coupon rate: 9 percent Semiannual payments Calculate the price of this bond if the YTM is: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16,)

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 11 years Coupon rate: 9 percent Semiannual payments Calculate the price of this bond if the YTM is: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16,)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

100%

Microhard has issued a bond with the following characteristics:
Par: $1,000
Time to maturity: 11 years
Coupon rate: 9 percent
Semiannual payments
Calculate the price of this bond if the YTM is: (Do not round intermediate calculations
and round your answers to 2 decimal places, e.g., 32.16.)
a.
percent
b.
11 реrcent
C.
7 percent
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