An 8% bond pays its coupon annually and has 9 years left to maturity. If its...

An 8% bond pays its coupon annually and has 9 years left to maturity. If its current YTM is 8.16%, what is its quoted price?

(Round to the nearest hundredth and do not enter a dollar or percent sign)

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As no method was mentioned I have solved the problem using excel function.

Please upvote if the answer is helpful.In case of doubt,do comment.Thanks.

jeff jeffy answered 1 year ago

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