A STRIPS traded on May 1, 2022, matures in 18 years on May 1, 2040. Assuming a yield to maturity of 6.1 percent, what is the STRIPS price? Note: Use Excel to answer this question. Enter your answer as a percentage of par value. Round your answe to 4 decimal places. STRIPS price

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
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A STRIPS traded on May 1, 2022, matures in 18 years on
May 1, 2040. Assuming a yield to maturity of 6.1 percent,
what is the STRIPS price?
Note: Use Excel to answer this question. Enter your
answer as a percentage of par value. Round your answer
to 4 decimal places.
STRIPS price
Transcribed Image Text:A STRIPS traded on May 1, 2022, matures in 18 years on May 1, 2040. Assuming a yield to maturity of 6.1 percent, what is the STRIPS price? Note: Use Excel to answer this question. Enter your answer as a percentage of par value. Round your answer to 4 decimal places. STRIPS price
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