Problem:
Wine and Roses, Inc. offers a 6.0 percent coupon bond with semiannual payments and a yield to maturity of 6.48 percent. The bonds mature in 7 years.
Required:
Question: What is the market price of a $1,000 face value bond?
- $973.33
- $1,333.40
- $1,306.73
- $1,639.92
- $1,010.38
Note: Please show how you came up with the solution.