Bonds make semiannual payments-current bond price
Financial Management
Sqeekers Co. issued 12-year bonds a year ago at a coupon rate of 7.8 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 6.1 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
