Middlefield motors has issued a bond that has a face value, Finance Basics

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Middlefield motors has issued a bond that has a face value

Question: Middlefield Motors has issued a bond that has a face value of $1000, pays annual coupons, and just made a coupon payment. One year ago, the price of the bond was 1,000 dollars, its yield-to-maturity was 13.54 percent, and it had 6 years until maturity. Today, the bond has a yield-to-maturity of 6.47 percent. What is the price of the bond today?

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Finance Basics: Middlefield motors has issued a bond that has a face value

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Finance Basics: Middlefield motors has issued a bond that has a face value

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