Assume that you wish to buy a bond with 5 years to maturity, with a par...

Assume that you wish to buy a bond with 5 years to maturity, with a par value of $1,000, and a coupon rate of 20.14%. Assume semi-annual payments. If the yield to maturity (YTM) is 24.85%, what is today's price of this bond?

Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

Expert Solution

jeff jeffy answered 2 years ago

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