In: Finance
Microhard has issued a bond with the following characteristics: |
Par: $1,000 |
Time to maturity: 20 years |
Coupon rate: 8 percent |
Semiannual payments |
Calculate the price of this bond if the YTM is (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): |
Price of the Bond | ||
a. | 8 percent | $ |
b. | 11 percent | $ |
c. | 5 percent | $ |