Intel recently issued semi-annual, 4.8% coupon bonds. The bond will mature in 3 years. The current yield-to- maturity for bonds like this is 2.9%. Assuming the par value is $1,000, what is the price of this bond?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Intel recently issued semi-annual, 4.8% coupon bonds. The bond will mature in 3 years. The current yield-to- maturity for bonds like this is 2.9%. Assuming the par value is $1,000, what is the price of this bond?

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