Homework Answers
|
Using financial calculator BA II Plus - Input details: |
# |
|
I/Y = R = Rate or yield / frequency of coupon in a year = 7.5/12 = |
3.750000 |
|
PMT = Coupon rate x FV / frequency = 8.6% x -1000 / 2 = |
-$43.00 |
|
N = Number of years remaining x frequency = Issue 1 year ago = 10 x 2 = |
20.00 |
|
FV = Future Value = |
-$1,000.00 |
|
CPT > PV = Present value of bond = Price of Bond = Current bond price = |
$1,076.429 |
|
Formula for bond value = |PMT| x ((1-((1+R%)^-N)) / R%) + (|FV|/(1+R%)^N) = |
$1,076.429 |
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