The yield to maturity of a $1,000 bond with a 6.6% coupon rate, semiannual coupons, and two years to maturity is 7.6% APR, compounded semiannually. What is its price?

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
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The yield to maturity of a $1,000 bond with a 6.6% coupon rate, semiannual coupons, and two years to maturity is 7.6%
APR, compounded semiannually. What is its price?
The price of the bond is $
www.
(Round to the nearest cent.)
Transcribed Image Text:The yield to maturity of a $1,000 bond with a 6.6% coupon rate, semiannual coupons, and two years to maturity is 7.6% APR, compounded semiannually. What is its price? The price of the bond is $ www. (Round to the nearest cent.)
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