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Fofino [41]
3 years ago
6

Gugenheim, Inc., has a bond outstanding with a coupon rate of 7.7 percent and annual payments. The yield to maturity is 8.9 perc

ent and the bond matures in 17 years. What is the market price if the bond has a par value of $2,000?
Business
1 answer:
Anna [14]3 years ago
3 0

Answer:

Bond price= $1,793.62

Explanation:

Giving the following information:

Face value= $2,000

Number of periods= 17

Cupon rate= 0.077

YTM= 0.089

T<u>o calculate the price of the bond, we need to use the following formula:</u>

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond Price​= 154*{[1 - (1.089^-17)] / 0.089} + [2,000/1.089^17)

Bond Price​= 1,324.21 + 469.41

Bond price= $1,793.62

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The information that the statement columns in the end-of-period spreadsheet mean to the accountant is the accounts have not been updated and a net income of $41,388. The correct option is b and c.

<h3>Who is an accountant?</h3>

An accountant is a person who manages and calculates the accounts or finance of a company, a firm, or a person. He calculates the capital of the person, manage taxes and give advice about the finance of the person.

Given that, debits are $26,754 and credits are $68,142. If we subtract the debit from the credit. We see a net income of $41,388.

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To learn more about accountants, refer to the link:

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salespeople personally call on business customers to a far greater extent than they do consumers.

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Under the B2B sells its products directly to other businesses such as wholesalers or retailers and not the end consumers.

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