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Semiannual coupon payment

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1) A bond has a par value of $1000 and currently sells for $987. The bond's coupon rate is 7.8% and coupon payments are made semiannually. What is the dollar amount of each semiannual coupon payment? Round to the nearest dollar.

2) Bond has a face value of $1,000, a market price of $1,112, and pays $87 in interest every six months. What is the coupon rate? Express your answer as a decimal, rounded to four places.

3) A $1,000 par value bond matures in 9 years, pays interest semiannually, and has a yield-to-maturity of 7.6 percent. Each semiannual coupon payment is $60. What is the current market price? Round your answer to the nearest cent.

Reference no: EM131710509

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