a.
Calculating APR on Bond,
using TVM Calculation,
I = [PV = -1,035.26, FV = 1,000, PMT = 42, N = 20]
I = 7.88%
b.
Calculating Bond Price,
Using TVM Calculation,
PV = [FV = 1,000, PMT = 42, N = 20, I = 0.093/2]
PV = $942.22
Please solve. Suppose a ten-year, $1,000 bond with an 8.4% coupon rate and semiannual coupons is trading for $1,035.26....
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