Value of Bond is equal to the present value of all interest payments as well as the principal amount
Hence, Value of bond = 150*PVAF(3.75%, 52 periods) + 5,000*PVF(3.75%, 52 periods)
= 150*22.735 +5,000*0.147
= $4,145.25
Note: since the interest payments are made quarterly, all annual rate have been divided by 4 and period has been multiplied by 4
P6-25 (similar to) 20 2 F12 Del 0
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