Higher customer satisfaction and more efficient use of resources are impacts of businesses that operate with a _______
2 answers:
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Answer:
$1,140.85
Explanation:
We use the Present value formula that is shown on the attachment below:
Data provided in the question
Future value = $1,000
Rate of interest = 7.20% ÷ 2 = 3.60%
NPER = 10 years × 2 = 20 years
PMT = $1,000 × 9.2% ÷ 2 = $46
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the price of the bond is $1,140.85
In semi annually, the coupon rate and the interest rate would be half whereas the time period is doubles
