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Calculate the clean price of a semiannual payment bond

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Problem 1: Use actual/actual to calculate the clean price of a semiannual payment bond which pays interest on 15 Feb and 15 Aug (181 days) of each year. The bond matures in 9 years with stated coupon rate is 5% and YTM of 4.80%. The bond is to be priced for settlement on 88 days (14 May 2019) from the last coupon payment (15 Feb).

Reference no: EM132774645

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