Calculate the current price of a $1,000 par value bond that has a coupon rate of...
Calculate the current price of a $1,000 par value bond that has a coupon rate of 7 percent, pays coupon interest annually, has 24 years remaining to maturity, and has a current yield to maturity (discount rate) of 11 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).
Homework Answers
Solution :
The current price of the bond = $ 666.07
Please find the attached screenshot of the excel sheet containing the detailed calculation for the solution.
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