Answer:
Current Bond price = $1155.5116
Step-by-step explanation:
We are given;
Face value; F = $1,000
Coupon payment;C = (7.3% x 1,000)/2 = 36.5 (divided by 2 because of semi annual payments)
Yield to maturity(YTM); r = 5.6%/2 = 2.8% = 0.028 (divided by 2 because of semi annual payments)
Time period;n = 13 x 2 = 26 years (multiplied by 2 because of semi annual payments)
Formula for bond price is;
Bond price = [C × [((1 + r)ⁿ - 1)/(r(r + 1)ⁿ)] + [F/(1 + r)ⁿ]
Plugging in the relevant values, we have;
Bond price = [36.5 × [((1 + 0.028)^(26) - 1)/(0.028(0.028 + 1)^(26))] + [1000/(1 + 0.028)^(26)]
Bond price = (36.5 × 18.2954) + (487.7295)
Bond price = $1155.5116
Answer:
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Answer:
Step-by-step explanation:
you would multiply the fractions
then you would add the hole number
<span>9/5C + 32 =
= 9/5 * 20 + 32
= 36 + 32
= 68
20 C = 68 F
</span>
If all were grandstand tickets, revenue would be 0.65*5716 = 3715.40. It was actually 298.50 less than that. Each bleacher ticket sold drops the revenue by .25, so there were 298.50/.25 = 1194 bleacher tickets sold.
