What is the minimum sales price to ensure a yield of 8


A $1000 bond having a bond rate of 7% payable semi-annually was purchased for face value and kept for 8 years.

a) What is the minimum sales price to ensure a yield of 8% nominal annual interest?

b) What would you enter in Excel to solve part a?

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Financial Management: What is the minimum sales price to ensure a yield of 8
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