An investor is considering a 5-year bond with a face value of $1,000, a coupon rate of 5% paid annually, and a yield to maturity of 6%. What is the current market price of this bond?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 8MC: Suppose a 10-year, 10% semiannual coupon bond with a par value of 1,000 is currently selling for...
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An investor is considering a 5-year bond with a face value of
$1,000, a coupon rate of 5% paid annually, and a yield to
maturity of 6%. What is the current market price of this
bond?
Transcribed Image Text:An investor is considering a 5-year bond with a face value of $1,000, a coupon rate of 5% paid annually, and a yield to maturity of 6%. What is the current market price of this bond?
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