You have just purchased a municipal bond with a 10000 par, Ask an Expert

Management Studies

You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous owner received a semi annual interest payment. The bond rate is 6.6% per year payable semi annually. You plan to hold the bond for 3 years, selling the bond immediately after you receive the interest payment. If your desired nominal yield is 9% per year compounded semi annually, what will be your minimum selling price for the bond?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M91260412

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