A 10-year bond has a face value of £100. The bond pays coupons semi-annually at a rate of 2%. The bond currently yields 4% p.a. effective in the market. Calculate the price of the bond £ 数字 Enter your answer as a decimal correct to 2 decimal places

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Bond Valuation

Bond valuation are the notes issued by the corporation to raise long-term funds for the business. The corporations are required to pay the interest on such liabilities at a specified rate of interest (termed as coupon rate) at specified dates which may be on semi-annual or annual basis. These interest payments may be in the form of coupons.