Roadside Markets has a 6.75 percent coupon bond outstanding that matures in 6 years. The bond pays interest semiannually. What is the market price per bond if the face value is $1,000 and the yield to maturity is 7.70 percent? A. $1,046 B. $955 C. $899 D. $983
For this question,
C = 6.75% * $1000/2 = $33.75 (semi-annually),
n = 6 * 2 = 12 semi-annual periods
M = $1000
i = 7.70%/2 = 3.85% (semi-annually)
P =$319.52 + $635.51
P = $955.03 (Option B)
Roadside Markets has a 6.75 percent coupon bond outstanding that matures in 6 years. The bond...
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