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Find the par value of the bond

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Question 1 - Nicholas buys a 21-year bond that yields 8% per annum convertible semiannually. Coupons are paid semiannually at 7% per annum. The bond is redeemable at 91% of par value at maturity. If the purchase price is $5202.27, find the par value of the bond.

A-5500

B-5600

C-5700

D-5800

E-5900

Question 2 - Thao buys a $100 bond with 3% annual coupons and redeemable at $103. Find the term of the bond if Thao's purchase price is $89.95 and the yield rate is 4% annual effective.

A-13

B-16

C-17

D-18

E-19

Question 3 - A $1,000 par value 20-year bond has coupons at 5% convertible semiannually. It has a redemption value of $1,100. If the yield rate is 6% convertible semiannually, what is the bond's price?

A-$884

B-$885

C-$915

D-$916

E-$1678

Reference no: EM133061160

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