A bond with 22 years until maturity has a coupon rate of 7.8 percent and a...

A bond with 22 years until maturity has a coupon rate of 7.8 percent and a yield to maturity of 6.3 percent. What is the price of the bond?

Expert Solution

The price of the bond is calculated using the PV function as follows:-

=PV(rate,nper,pmt,fv)

=PV(6.3%,22,-7.8%*1000,-1000)

=1176.01

jeff jeffy answered 2 years ago

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