A bond with 21 years until maturity has a coupon rate of 7.6 percent and a yield
ID: 2773195 • Letter: A
Question
A bond with 21 years until maturity has a coupon rate of 7.6 percent and a yield to maturity of 6.2 percent. What is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
A bond with 21 years until maturity has a coupon rate of 7.6 percent and a yield to maturity of 6.2 percent. What is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Price of the bondExplanation / Answer
Bond price $ 1,161.96 PV(6.2%,21,76,1000)*-1
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