8). Semi-annual coupon = 1,000 x .04 x .5 = $20.
One month of accrued interest is $20 x (60/182) = $6.593
at a price of 105% the invoice price is 1,050 + 6.593 = $1,056.59
9). To find the bond price, we need to put the following values in the financial calculator:
INPUT | 7x2=14 | 7/2=3.5 | (8%/2)x1,000=40 | 1,000 | |
TVM | N | I/Y | PV | PMT | FV |
OUTPUT | -1,054.60 |
Thus, Current Bond's Price = $1,054.60
A coupon bond paying semiannual interest is reported as having an ask price of 105% of...
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