What is the fair price of a bond assuming that the annual rate is 5.32% if its face value is Php 610,500, the maturity date is 29 years from now and that the coupon rate is 5.32 % payable quarterly? Round off the answer to two decimal places.

What is the fair price of a bond assuming that the annual rate is 5.32% if its face value is Php 610,500, the maturity date is 29 years from now and that the coupon rate is 5.32 % payable quarterly? Round off the answer to two decimal places.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter12: Investing In Stocks And Bonds

Section: Chapter Questions

Problem 6FPE

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Question

What is the fair price of a bond assuming that the annual rate is 5.32% if its face value is Php 610,500, the
maturity date is 29 years from now and that the coupon rate is 5.32% payable quarterly? Round off the
answer to two decimal places.

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