You find a zero-coupon bond with a par value of $10,000 and 28 years to maturity. The yield to maturity on this bond is 5.4 percent. Assume semiannual compounding periods. What is the price of the 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
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Please provide answer financial accounting

You find a zero-coupon bond with a par value
of $10,000 and 28 years to maturity. The yield
to maturity on this bond is 5.4 percent.
Assume semiannual compounding periods.
What is the price of the bond?
Transcribed Image Text:You find a zero-coupon bond with a par value of $10,000 and 28 years to maturity. The yield to maturity on this bond is 5.4 percent. Assume semiannual compounding periods. What is the price of the bond?
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