A bond promises to pay the bondholder equal payments of php 6000.00 in six month interval for 30 years. if the face amount is php 450000. What is the fair price of the bond ? Assume that market rate is 2% compounded annually?

Intermediate Financial Management (MindTap Course List)
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ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
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Chapter4: Bond Valuation
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A bond promises to pay the bondholder equal payments of php 6000.00 in six month interval for 30 years. if the face amount is php 450000. What is the fair price of the bond ? Assume that market rate is 2% compounded annually?

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