doutlaw
Apr 18, 2009, 10:09 AM
The homework question is for Financial management. Ghayth Hilal purchases a $5,000, 7%, 10-year coupon bond that pay interest annually at a price to give a 6% yield to maturity. Calculate the purchase price of the bond.
morgaine300
Apr 18, 2009, 11:11 AM
Please see the guidelines for posting homework questions:
http:https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html//
And for time value of money questions, it's always very useful to know if you're using charts, a financial calculator, algebraic equations, etc. There's different ways to solve these.