Hey does anyone know if the n: is 2*2 =4 because of the selling price of bond is april 18, 2007 and mature on aug 1, 2009 or do we count as apri 18 to aug 1?
A bond with a face value of $1,000 bears interest at 10% payable semi-annually. The bond matures on August 1, 2009. What is the selling price of the bond on April 18, 2007, to yield 9% compounded semi-annually?
A bond with a face value of $1,000 bears interest at 10% payable semi-annually. The bond matures on August 1, 2009. What is the selling price of the bond on April 18, 2007, to yield 9% compounded semi-annually?