What is the price of a bond that has a time to maturity of 4 years, a coupon rate of 3.3%, and a face value of $1,000, if the yield is 4.3%? (answer in dollars, with two decimal places but without the dollar sign, e.g. "983.23" is $983.23)

What is the price of a bond that has a time to maturity of 4 years, a coupon rate of 3.3%, and a face value of $1,000, if the yield is 4.3%? (answer in dollars, with two decimal places but without the dollar sign, e.g. "983.23" is $983.23)

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

Section: Chapter Questions

Problem 1PS

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Question

What is the price of a bond that has a time to
maturity of 4 years, a coupon rate of 3.3%, and a face
value of $1,000, if the yield is 4.3%? (answer in
dollars, with two decimal places but without the
dollar sign, e.g. "983.23" is $983.23)
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