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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iz G
Union Local School District has bonds outstanding with a coupon rate of 3.2 percent
paid
semiannually and 21 years to maturity. The yield to maturity on these bonds is 3.5
percent
and the bonds have
a par value of $5,000. What is the price of the bonds? (Do
not round intermediate calculations and round your answer to 2 decimal places,
e.g.,
32.16.)
HR
4.778.24
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