66. Bond value--semiannual payment Answer: e Diff: E N
This is a straight-forward bond valuation, just remember that the bond has semiannual coupons. Enter the following data into your financial calculator:
N = 12 2 = 24; I = 8 2 = 4; PMT = 90 2 = 45; FV = 1000; and then solve for PV = -$1,076.23. VB = $1,076.23.
67. Bond value--semiannual payment Answer: b Diff: E N
Using your financial calculator, enter the following data as inputs:
N = 2 10 = 20; I = 9/2 = 4.5; PMT = 0.08/2 1,000 = 40; FV = 1000; and then solve for PV = -$934.96. VB = $934.96.
68 . Bond value--semiannual payment Answer: c Diff: E
N = 10 2 = 20; I = 9/2 = 4.5; PMT = 50; FV = 1000; and then solve for PV = -$1,065.04. VB = $1,065.04.
69
. Bond value--semiannual payment Answer: b Diff: E
N = 15 2 = 30; I/YR = 11/2 = 5.5; PMT = 1,000 0.08/2 = 40; FV = 1000; and then solve for PV = -$781.99. VB = $781.99.
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