Calculate the price of this bond

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Reference no: EM131185040

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 years Coupon rate: 9 percent Semiannual payments Calculate the price of this bond if the YTM is (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): Price of the Bond a. 9 percent $ b. 12 percent $ c. 6 percent $ This is what I have but it was wrong.... YTM Semiannual payment Coupon rate AJ3=7.00% Par $1,000.00 Semiannual payment AJ5= $35.00 Price at X% (AJ5/(1+AJ3/2))+(AJ5/(1+AJ3/2)^2) +(AJ5/(1+AJ3/2)^3)=$98.6

Reference no: EM131185040

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