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Determine the purchase price of the bond

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Reference no: EM132493324

Question (a) A bond with $40 semi-annual coupons is purchased at a premium to yield j2 = 7%. If the rst write-down is $4.33, determine the purchase price of the bond.

Question (b) A dierent bond with a par value of $100,000 and coupons at the rate j2 = 6: 5% is purchased for $96,446.90 to yield j2 = 7% to maturity. Determine the number of years to maturity.

Reference no: EM132493324

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