The two bonds have the same yield-to-maturity bond a has a, Financial Management

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The two bonds have the same yield-to-maturity bond a has a

Bond A pays annual coupons, pays its next coupon in 1 year, matures in 18 years, and has a face value of 1,000 dollars. Bond B pays semi-annual coupons, pays its next coupon in 6 months, matures in 16 years, and has a face value of 1,000 dollars. The two bonds have the same yield-to-maturity. Bond A has a coupon rate of 7.84 percent and is priced at 992.46 dollars. Bond B has a coupon rate of 8.96 percent. What is the price of bond B?

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Financial Management: The two bonds have the same yield-to-maturity bond a has a

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