A Php1,000, 9.5% MWDR Inc. bond has a semi-annual coupon rate of 15%. This matures after 6 years and the required rate of return is 8%. Find the bond price.
bond price =
where
n is period which takes values from 0 to the nth period till the cash flows ending period,
Cn is coupon payment in the nth period,
YTM is interest rate or required yield,
P is par value of the bond.
bond price =
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