Problem:
Wine and Roses, Inc. offers a 6 percent coupon bond with semiannual payments and a yield to maturity of 6.73 percent. The bonds mature in 9 years.
Required:
Question: What is the market price of a $1,000 face value bond?
- $1,107.60
- $1,352.04
- $951.89
- $1,351.47
- $951.31
Note: Show all workings.