General mills has a 1000 par value 17-year to maturity bond, Risk Management

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General mills has a 1000 par value 17-year to maturity bond

This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems.

General Mills has a $1,000 par value, 17-year to maturity bond outstanding with an annual coupon rate of 8.90 percent per year, paid semiannually. Market interest rates on similar bonds are 10.12 percent. Calculate the bond’s price today.

Round the answer to two decimal places.

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Risk Management: General mills has a 1000 par value 17-year to maturity bond

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Risk Management: General mills has a 1000 par value 17-year to maturity bond

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