Can anyone help with this question:

Assume you are trying to purchase a bond that pays monthly coupons (these coupons are determined by the 1m Libor rate) + par at maturity

The maturity of the bond is 2 years. What would be the price now for this bond?

Generally, and assuming no change in the issuer's credit quality, a floater prices at par immediately following each coupon date.

Between coupon dates, a floater's price will move off par, but with a monthly "reset", it shouldn't stray far.

Hope this helps a bit,