The yield to maturity of a $ 1 000 bond with a 7.2 % coupon​ rate, semi-annual​ coupons, and two years to maturity is 7.7 % APR​, compounded​ semi-annually. What must its price​ be?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 4MC
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The yield to maturity of a $ 1 000 bond with a 7.2 % coupon​ rate, semi-annual​ coupons, and two years to maturity is 7.7 % APR​, compounded​ semi-annually. What must its price​ be? 

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